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oversight, SIPC sought a protective decree for BLMIS on December 15,
relationship with BLMIS, despite the fact that BLMIS did not hold any
Thus far, the BLMIS trustee has allowed 2,528 claims related to 2,198 Madoff accounts.
The nearly $6 billion in BLMIS distributions to date includes approximately $816.2 million in committed advances by SIPC to satisfy Madoff customers.
To everyone's surprise, at year-end 2010, the Trustee had already recovered $7.2 billion from a single BLMIS customer.
A website tracking these lawsuits--not including those brought by the BLMIS trustee--once listed hundreds of cases.
Picard, said he wishes to allocate the funds to the BLMIS Customer Fund and to authorise a third pro rata interim distribution from the fund to BLMIS customers with allowed claims.
BLMIS was a member of the SIPC, and after the fraud was revealed it
The Sterling parties' customer claims -- which total approximately $178 million -- will be allowed in full and will be entitled to recovery on the same basis as other BLMIS customers.
As part of the settlement agreement, the defendants will deliver cash payments into escrow totaling more than $1 billion, which will ultimately be placed into the Customer Fund and distributed, pro rata, to BLMIS customers with allowed claims.
"JP Morgan ignored its anti-money laundering obligations and repeatedly allowed suspicious transactions for high dollar amounts to occur in the BLMIS account," said David J.
BLMIS account, without interest, less any cash withdrawals (the
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