Recent setbacks by the court-appointed trustee trying to recoup assets on Madoff victims' behalf - combined with frustration over the trustee's legal and other fees, which to date total more than $550 million and counting - are encouraging some former Madoff customers to unload their claims, Reuters reported yesterday. Trustee Irving Picard has so won settlements of $9.1 billion to date through lawsuits against groups and individuals he has accused of turning a blind eye to Madoff's crimes and profiting from his scheme. Much of that money is tied up in litigation over payout calculations, however, and cannot be distributed. So far, Madoff investors have only received payments of $330 million. Picard's office has said Madoff customers ultimately could get a full recovery of the more than $17 billion in approved claims. Picard spokeswoman Amanda Remus declined to comment on claims-trading activity or prices.
