That amount is the entire amount the trustee asked for in the lawsuit and is also that entire amount that Picower withdrew.
In another settlement, the family of Carl Shapiro settled for $650 million.
So, if these were ill-gotten gains, is anyone going to prison? Or is that just so for the little people?
The trustee is doing an admirable job here. Total losses for Madoff’s Ponzi scheme were $20 billion, with hundreds of lawsuits remaining to be settled.