2022 Year in Review

The Conservator set the foundation by determining the method to calculate investor equity, filing lawsuits against net winner investors and individuals who received kickbacks, identifying multiple sources of funds, and making distribution to Investors. Since these actions were executed, it has made possible the following:

• The Conservator has extensively researched investors and has served summonses on Investors, spouses, and estates of investors.
• Settlements have been made with Net Winner Investors, those who received greater than what they invested in distributions, through court proceedings, mediation and settlement agreements.
• Claims for each Investor have been filed with the Madoff Victims Fund. The Madoff Victims Funds has made several distribution.
• Trustee Picard has made the twelfth interim distribution to the Conservator, which will be distributed to Investors after court approval.
• Florida Supreme Court has made changes to court proceeding which has effected the timing and distributions in this case.

I again want to thank you for your cooperation and patience as I continue to recover additional funds for distribution.