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Overseeing The Liquidation Of A Ponzi Scheme Almost As Lucrative As Running A Ponzi Scheme

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Irving Picard wants $43.2 million for the last four months of work on the Madoff file.

...bringing total fees sought in the case to $175.5 million since Madoff’s arrest.

Expenses of $1.1 million were claimed by trustee Irving Picard and Baker & Hostetler LLP from Oct. 1 to Jan. 31, according to a U.S. Bankruptcy Court filing in New York yesterday. The Madoff case took almost 955 hours of Picard’s time during the period, charged at $748 an hour, and 116,399 hours of his firm’s time at $371 an hour, according to the filing.