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CNN News Item 18
Intermediate · medium · Sentence 1/6
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1.
Just a few minutes ago, a Manhattan federal judge approved a settlement agreement between my office and the estate of Jeffrey Picower.
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Monies we now know werethe proceeds of the largest Ponzi scheme in all of history.
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The settlement represents thelargest forfeiture recovery in U.S. history.
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More importantly,this settlement provides a significant measure of hope for the many victims of Bernard Madoff's horrific crimes,crimes which Judge Denny Chin described as extraordinarily evil.
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This settlement is themost substantial step to date in the ongoing effort to make the Madoff victims, wholeWith the close to $ 10 billion now recovered
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we have together collected close to 50percent of the principle that victims lost to Madoff's Ponzi scheme.
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