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> Irving Picard recovered $9.3B from Madoff and paid only $5.4B to depositors. Is this accurate? That's absolutely insane. _That_ sounds like fraud/theft.
by 55555 4y ago
> Irving Picard recovered $9.3B from Madoff and paid only $5.4B to depositors.
Is this accurate? That's absolutely insane. _That_ sounds like fraud/theft.
- jl2718 4y agoDid you know that Madoff didn't charge fees? His crime was faking the numbers, but the way he made money is, much like SBF, through leverage of managing that money. I don't know much about it, but until the lawyers got involved, the only losses were the made-up gains. Then they took $4B in real money. So, who's the real crook? https://money.cnn.com/2013/05/06/news/companies/madoff-picard-lawyers/index.html https://money.cnn.com/2013/05/06/news/companies/madoff-picar...