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.
Reports say jailed financial adviser Bernard Madoff, orchestrator of the largest-ever U.S. Ponzi scheme, won't attend the funeral of his son -- who apparently committed suicide last week.
Mark Madoff, the 46-year-old son of convicted ex-financier Bernard Madoff, was found hanged in his apartment Saturday, according to law enforcement officials. Both Mark and his brother Andrew were under investigation, but have not been charged in the multi-billion dollar scheme that sent their dad to prison for life.