Irving Picard's Three Percent Commission In The Madoff Case

Time Magazine posted an online article saying that SIPC "Trustees are paid well, receiving personally 3% of anything over $1 million they recover for victims. For example, if $2 billion is ultimately recovered in the Madoff case, Picard stands to make personally $60 million in fees, provided the New York federal judge overseeing the case, the Hon. Louis agrees to it."

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