Nice Work If You Can Get It

Author:
Updated:
Original:

Madoff trustee Irving Picard and his humble Cleveland law firm have submitted their bills for the last five months. The total: more than $22 million.
That's on top of the $15.7 million they made for their first four-and-a-half months on the job.
Breakdown follows.

Irving H. Picard, Trustee for the Liquidation of Bernard L. Madoff Investment Securities
Fees, 1 May-30 Sept.: $835,605
Subscription to Combover Style magazine: $19.99
Hardship bonus for having to travel to Queens to visit Madoff warehouses: $1.7 million
Baker & Hostetler, legal counsel to Irving H. Picard, who coincidentally is also a partner at the firm
Fees: $21.28 million
Expenses: $280,682
Expense report
Female companionship: $77,945
Recreational narcotics: $23,404
Christmas party entertainment (Ruth Madoff topless revue): $5,034
Cleveland Indians playoff tickets: $0
In-house Ponzi scheme start-up costs: $37,946

Madoff trustee and law firm submit $22.1 mln bill [Reuters]
Madoff Trustee And His Law Firm Seek Another $22 Million [FINalternatives]

Related