The cost of liquidating the Bernard Madoff brokerage has climbed to almost $682 million, including about $27 million for the six months through Sept. 30, the trustee said in a federal court filing in Manhattan.
Fees and expenses for trustee Irving Picard’s firm and other lawyers and consultants since his December 2008 arrest were about $646 million of the total.
Picard has paid the massive Ponzi scheme’s victim’s $2.9 billion, and the Securities Investor Protection Corp., which also pays fees, has distributed almost $804 million, according to the filing.