Irving Picard, the trustee overseeing the liquidation of Madoff's firm has said that victims of the multi-billion-dollar Ponzi scheme will be receiving their money back starting Oct. 5, 2011. "This initial distribution is the first return of stolen funds to Madoff's defrauded customers," he said.
Picard has also disclosed that more than 1,2oo account holders will get their share from the initial $312 million recovered from the company. This is a small amount compared to the $9 billion recovered funds. This however is still a subject of litigation.
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