Former customers of Bernard Madoff will have recouped nearly $6 billion of their money if a federal bankruptcy judge approves the latest payout request by the trustee liquidating the swindler's firm, Reuters reported yesterday. Trustee Irving Picard yesterday said that he is seeking approval to pay out $349 million to fraud victims with 1,080 accounts, with payments ranging from $496 to $77.3 million. The bulk of the payout comes from Picard's $325 million settlement of claims against JPMorgan Chase & Co., once Madoff's main bank. Picard said that the payout would boost the total amount distributed to Madoff victims above $5.9 billion, including sums advanced by the Securities Investor Protection Corp, which oversees the liquidation of failed brokerages.
