The Day After
PHOTOS
Bosses Behind Bars
From Bernard Madoff to Martha Stewart, a look at the men and women forced from their corner offices and into a federal pen.
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Bernie Madoff's fate is sealed: it was decided last week that he'll spend his 150 years in a prison in N.C. But the sad saga continues for his victims:
Just 561 of more than 15,800 claims filed with the Securities Investor Protection Corp. have been processed, citing more than $3 billion in losses (an average of $5.4 million).
The max that victims can receive from the SIPC: $500,000. Any compensation beyond that would come from what Madoff trustee Irving Picard can recover from the estate. He's seeking $13.7 billion. He has collected $1 billion.
Picard sued purported "enablers"—Madoff feeder funds—but Picard himself was sued for allegedly shortchanging claims. (He denies the charges.)
© 2009
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