Madoff, 79, pleaded guilty in 2009 and was sentenced to 150 years in prison. Five of Madoff’s top aides were convicted after a trial in 2014.
Picard, an attorney with Baker & Hostetler LLP in Manhattan, was hired by the industry-financed Securities Investor Protection Corp. to recover cash for victims shortly after Madoff’s arrest. SIPC, rather than the victim fund, has funded all the fees and expenses associated with the case.
"SIPC has confidence that the Madoff recovery initiative will continue to deliver additional, significant distributions in 2018 and beyond," SIPC President Stephen Harbeck said in the statement.
This article was provided by Bloomberg News.