Recoveries — Madoff Recovery Initiative (Public page of the trustee for the SIPA liquidation).

Claims Supported by This Source

1. As of August 21, 2026, the SIPA Trustee has recovered or reached agreements to recover approximately $15.485 billion.
2. Distributions from the customer fund: $14.799 billion. Seventeen interim pro rata distributions: 1st 4.602% ($926 million), 2nd 33.556% ($6.733 billion), 3rd 4.721% ($943.1 million), 4th 3.180% ($634.5 million), 5th 2.743% ($546.8 million), 6th 8.262% ($1.641 billion), 7th 1.305% ($258.4 million), 8th 1.729% ($341.9 million), 9th 3.806% ($750.6 million), 10th 2.729% ($536.6 million), 11th 1.975% ($387 million), 12th 1.240% ($242.6 million), 13th 0.604% ($118 million), 14th 0.265% ($51.7 million), 15th 0.419% ($81.7 million), 16th 0.410% ($80 million), and 17th 1.302% ($253.6 million). Advances reimbursed to SIPC for fully satisfied accounts: $272.4 million.
3. The fourth distribution began on May 5, 2014, and the fifth through seventeenth distributions began between February 6, 2015, and February 27, 2026 (7th: 2016-06-30, 8th: 2017-02-02, 9th: 2018-02-22, 10th: 2019-02-22, 11th: 2020-02-28, 12th: 2021-02-26, 17th: 2026-02-27).
4. SIPC provides the Trustee with advances of up to $500,000 per allowed claim and has committed approximately $850.9 million. Of this, $272.4 million for fully satisfied accounts has been reimbursed, leaving $578.5 million unreimbursed (subrogated).
5. Customer Fund balance (including necessary reserves): $685.8 million. Reserve for three claims in litigation "deemed determined": approximately $566.2 million. Reserve for deferred payments and other items: approximately $119.59 million. General reserve: $0.
6. Major recoveries: $5 billion settlement with the Picower estate (approved by bankruptcy court 2011-01-13; forfeiture of approx. $7.2 billion to the government finalized on 2012-07-16, releasing $5 billion to the trustee), Tremont $1.025 billion (released 2013-02-08), Kingate $860 million (approved 2019-08-06), Thema International approx. $687 million (2017-10-19), Shapiro et al. $550 million (2010-12-21), Herald/Primeo approx. $497 million (2014-12-17), Union Bancaire Privée $470 million (2011-01-06), JPMorgan Chase approx. $543 million (2014-02-04; trustee's clawback claim of $325 million and class action lawsuit of $218 million), IRS $326 million (2011-12-21; BLMIS had collected withholding taxes on fictitious dividends from 126 foreign accounts and paid them to the IRS), Optimal over $235 million (2009-06-16), Levy estate $220 million (2010-02-18)
7. Trustee and government split over $23 million in a settlement with the estates of Madoff's sons and his widow (approved 2017-07-24)

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