Jeffry Picower

Federal prosecutors and the trustee in charge of recovering money for the victims of Bernard Madoff's Ponzi scheme have reached a settlement with the estate of Jeffry Picower worth $7.2 billion.

The death of Jeffry Picower, accused of profiting more than $7 billion from the investment schemes of his longtime friend Bernard Madoff, will make it more difficult for suing investors to recoup their money, attorneys said. Picower's wife, Barbara, on Sunday discovered the 67-year-old's body at...

Remember Bernie Madoff? He's the little fellow who ran a $65 billion Ponzi scheme. Last week the government demanded he pay $170 billion -- which I gather is the amount that prosecutors believe Madoff stole. But with Madoff and his wife forking over $80 million, it's unclear why they aren't giving...