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Less Than $49 Billion To Go!

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CNBC's Scott Cohn reports that Irving Picard, the court appointed trustee overseeing the Madoff liquidation, has secured a settlement with Optimal Investment Services (the investment arm of Banco Santander SA). Optimal will pay Ponzi Boy's victims $235 million, bringing the collected grand total to $1.22 billion. Picard is apparently pleased by the figure, though well aware that he's got, like, loads of man hours left to go on this thing. Of course, that needn't be the case, but someone's apparently not interested in expediting this thing. He'll come around, though. They all come around.
Earlier: Scam Artist Makes Offer For Madoff Securities That'd Make Bernie Proud
**Yes, we know the figure to be recouped isn't actually $50 billion, but no one seems to know what it is, so this is what we're going with.