Madoff Victims Win A Big One

Victims of Bernie Madoff's Ponzi scheme have gotten their biggest victory since it all happened, as Irving Picard, trustee of the Madoff victims, settled with the estate of Jeffry Picower, according to the Wall Street Journal.

According to the U.S. Attorney for the Southern District of New York, the estate will be paying around $7.2 billion to victims of Bernard L. Madoff Investment Securities.

The settlement will quadruple the amount of money recovered for victims, the newspaper said.