REPARATIONS

Madoff Victims to Get $100K

The liquidation of Bernie Madoff's assets is well underway, and the first $100 million in repayments to the investors he swindled should be approved by the end of May. The trustee handling the arduous process, Irving Picard, said that he has filed lawsuits that should lead to the recovery of over $10 billion. Picard added that Madoff is not cooperating with the process of liquidating his assets. Many of Madoff's former clients are still feeling the aftershocks of the largest ponzi scheme in history, as they are having to repay the improbable returns they received so "that all customers share [the burden] equally," Bloomberg reports. Picard said that "every customer statement issued by Madoff's firm was 'a fiction.'"