The trustee overseeing the Madoff bankruptcy says the Securities Investor Protection Corporation has paid a record $534 million to Madoff investors, but that amount pales in comparison to the $21.2 billion he now says was stolen in the giant Ponzi scheme.
Trustee Irving Picard, a partner at Baker & Hostetler, called the half billion dollar figure "a major milestone," under what he called "very challenging circumstances." He held a conference call with reporters Wednesday, along with SIPC President Stephen Harbeck.
Note: The full conference call will be posted on SIPC's web site, sipc.org, by 4pm ET.