Madoff case trustee says claims in massive Ponzi scheme rise to almost 9,000

Trustee: Nearly 9,000 claims in Madoff scam

NEW YORK — The trustee overseeing the liquidation of Bernard Madoff’s assets says he’s received almost 9,000 claims from the disgraced financier’s victims.

Court-appointed trustee Irving Picard told reporters Thursday on a conference call that he’s identified about $1 billion in assets that will be used to pay the claims.

He’s also filed lawsuits seeking to recover more than $10 billion in fictitious profits paid out by Madoff’s firm.

Madoff pleaded guilty in March to charges his secretive investment advisory operation was a massive Ponzi scheme. He faces up to 150 years in prison at his sentencing June 29.