(Bloomberg)--Bernard Madoffs victims are set to get $349 million in a fresh round of payments by the trusteeunwinding his firm, a day after five of its ex-employees were convicted of aiding the con mans $17.5 billion Ponzi scheme.
The distribution, which needs approval by the U.S. Bankruptcy Court in New York, will bring total payouts to victims to almost $6 billion, or 34% of the lost principal, Irving Picard, the trustee for Bernard L. Madoff Investment Securities LLC, said in a statement yesterday. Its the fourth such distribution since Madoffs 2008 arrest triggered the liquidation.
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