Four years later, still tracking Bernard Madoff’s scheme
Hunt for stolen funds continues
Irving Picard, the trustee appointed to recover funds for Bernard Madoff victims, and a battalion of lawyers headed by David Sheehan have spent long days untangling Madoff’s fraud. On the fourth anniversary of Madoff’s Dec. 11, 2008, arrest, it’s an international effort that shows no signs of slowing. So far, they have secured nearly $9.3 billion of the estimated $17.5 billion that thousands of investors put into Madoff’s sham investment business.