{"entity":{"id":11358,"slug":"irving-h-picard","name":"Irving H. Picard","type":"person","role":"SIPA Trustee, BLMIS Liquidation","description":"SIPA Trustee for the liquidation of BLMIS, appointed December 15, 2008. As of 2024 had recovered or committed to recover over $14.7 billion for victims, the largest such recovery in financial history.","imageUrl":null,"createdAt":"2026-04-20T11:22:01.543Z","updatedAt":"2026-05-19T09:34:49.157Z"},"electedOffice":null,"significance":{"score":10.4,"components":{"totalFindings":0,"connectionDegree":6.4,"recentFindings90d":0,"activeResearchJobs":0,"goblinAttributions":4,"recentSyntheses90d":0,"moneyFlowChainsTotal":0,"closedLoopMemberships":0,"moneyFlowHopsRecent90d":0},"computedAt":"2026-10-16T01:34:31.424Z"},"facts":[{"id":20586,"text":"Appointed SIPA Trustee for the BLMIS liquidation December 15, 2008 by the Securities Investor Protection Corporation; partner at Baker Hostetler.","confidence":"primary","dateOccurred":"2008-12-15","source":{"title":"Madoff Recovery Initiative — Office of the SIPA Trustee","url":"https://www.madofftrustee.com/","publication":"Baker Hostetler / SIPA Trustee"}},{"id":20585,"text":"As of 2024 had recovered or entered into agreements to recover more than $14.7 billion for BLMIS customers — the largest fraud-recovery effort in U.S. financial history.","confidence":"secondary","dateOccurred":null,"source":{"title":"Madoff Recovery Initiative — Office of the SIPA Trustee","url":"https://www.madofftrustee.com/","publication":"Baker Hostetler / SIPA Trustee"}}],"connections":[{"id":19341,"relationshipType":"no_connection_found","description":"No connection found between Pat Harrigan and Irving H. Picard in the provided data.","confidence":"inferential","firstDocumented":"2024","lastDocumented":null,"other":{"id":10845,"name":"Pat Harrigan","slug":"congress-h001101","type":"person"}},{"id":18046,"relationshipType":"potential_legal_target_in_Madoff_liquidation","description":"As an officer of a Madoff feeder fund, Carlo Grosso could be a person of interest in the Madoff trustee's recovery actions, though no specific legal proceedings are documented.","confidence":"inferential","firstDocumented":"unknown","lastDocumented":null,"other":{"id":11574,"name":"Carlo Grosso","slug":"carlo-grosso","type":"person"}},{"id":11180,"relationshipType":"settlement","description":"Kingate Global Fund liquidators reached a settlement with the BLMIS SIPA Trustee Irving Picard in 2014, contributing several hundred million dollars to the customer-recovery pool over subsequent years.","confidence":"inferential","firstDocumented":"2014-01-01","lastDocumented":null,"other":{"id":11477,"name":"Kingate Global Fund","slug":"kingate-global-fund","type":"company"}},{"id":18188,"relationshipType":"defendant in trustee action","description":"Named in SDNY SIPA trustee actions (filed by trustee Irving H. Picard) over the Tremont/Rye Madoff feeder losses.","confidence":"primary","firstDocumented":"2008","lastDocumented":null,"other":{"id":12691,"name":"Robert I. Schulman","slug":"robert-i-schulman","type":"person"}},{"id":18171,"relationshipType":"legal settlement","description":"Tremont Group Holdings (affiliated with Tremont Capital Management) settled with SDNY SIPA trustee Irving Picard for approximately $1.025 billion in July 2011 in connection with Rye/Tremont BLMIS feeder losses.","confidence":"primary","firstDocumented":"2011","lastDocumented":null,"other":{"id":12687,"name":"Tremont Capital Management","slug":"tremont-capital-management","type":"company"}},{"id":18059,"relationshipType":"related in legal proceedings","description":"Fairfield Sentry Limited was placed in liquidation in the British Virgin Islands in July 2009, and subsequently pursued recovery actions against downstream investors via BVI courts in parallel with the U.S. SIPA trustee process (Irving H. Picard).","confidence":"primary","firstDocumented":"2009","lastDocumented":null,"other":{"id":11571,"name":"Fairfield Sentry Limited","slug":"fairfield-sentry-limited","type":"company"}},{"id":18016,"relationshipType":"legal/trustee relationship","description":"Shapiro family entities returned approximately $625 million to the BLMIS trustee Irving H. Picard in December 2010 as part of clawback proceedings related to the Madoff Ponzi scheme.","confidence":"primary","firstDocumented":"2010","lastDocumented":null,"other":{"id":11360,"name":"Carl Shapiro","slug":"carl-shapiro","type":"person"}},{"id":18015,"relationshipType":"subject_of_recovery","description":"Following Picower's death, his widow Barbara Picower agreed to forfeit $7.2 billion to BLMIS trustee Irving H. Picard and the U.S. government in 2010, the largest single forfeiture in U.S. history at the time.","confidence":"primary","firstDocumented":"2010","lastDocumented":null,"other":{"id":11359,"name":"Jeffry Picower","slug":"jeffry-picower","type":"person"}},{"id":17931,"relationshipType":"trustee_for_victims","description":"Irving Picard was appointed as the court-appointed trustee to recover funds for Madoff's victims, overseeing the largest fraud recovery in US history.","confidence":"primary","firstDocumented":"2009","lastDocumented":null,"other":{"id":11354,"name":"Bernie Madoff","slug":"bernie-madoff","type":"person"}},{"id":11161,"relationshipType":"liquidation_trustee","description":"Picard appointed SIPA Trustee for BLMIS liquidation December 15, 2008; recovered or committed $14.7B+ for victims as of 2024.","confidence":"primary","firstDocumented":"2008-12-15","lastDocumented":null,"other":{"id":11355,"name":"Bernard L. Madoff Investment Securities","slug":"bernard-l-madoff-investment-securities","type":"company"}},{"id":18040,"relationshipType":"legal_proceeding","description":"Trustee in the Madoff bankruptcy/liquidation proceedings, likely involving claims against the firm and its employees.","confidence":"secondary","firstDocumented":"2008","lastDocumented":null,"other":{"id":11362,"name":"Andrew Madoff","slug":"andrew-madoff","type":"person"}},{"id":18022,"relationshipType":"legal/proceeding","description":"Irving H. Picard, as the trustee liquidating BLMIS, would have been involved in legal proceedings related to Mark Madoff's estate and his role in the firm.","confidence":"secondary","firstDocumented":"2009","lastDocumented":null,"other":{"id":11361,"name":"Mark Madoff","slug":"mark-madoff","type":"person"}},{"id":11291,"relationshipType":"trustee","description":"Court-appointed SIPC trustee for the liquidation of BLMIS, whom DiPascali's cooperation assisted in recovering assets.","confidence":"secondary","firstDocumented":null,"lastDocumented":null,"other":{"id":11357,"name":"Frank DiPascali","slug":"frank-dipascali","type":"person"}},{"id":11176,"relationshipType":"settlement","description":"Tremont funds and affiliates agreed a $1.025 billion settlement with the BLMIS SIPA Trustee Irving Picard on July 28, 2011 — at the time the second-largest single recovery in the BLMIS liquidation.","confidence":"secondary","firstDocumented":"2011-07-28","lastDocumented":"2011-07-28","other":{"id":11475,"name":"Tremont Group Holdings","slug":"tremont-group-holdings","type":"company"}},{"id":11175,"relationshipType":"settlement","description":"Optimal Strategic US Equity agreed a $235 million settlement with the BLMIS SIPA Trustee Irving Picard on May 26, 2009 — the first major BLMIS feeder-fund settlement.","confidence":"secondary","firstDocumented":"2009-05-26","lastDocumented":"2009-05-26","other":{"id":11478,"name":"Optimal Strategic US Equity","slug":"optimal-strategic-us-equity","type":"company"}},{"id":11172,"relationshipType":"settlement","description":"Fairfield Greenwich affiliates settled with the BLMIS SIPA Trustee Irving Picard in May 2011 for approximately $80 million.","confidence":"secondary","firstDocumented":"2011-05-09","lastDocumented":"2011-05-09","other":{"id":11471,"name":"Fairfield Greenwich Group","slug":"fairfield-greenwich-group","type":"company"}}],"contradictions":[],"permalink":"https://www.goblinhouse.net/entity/irving-h-picard","timelineUrl":"https://www.goblinhouse.net/entity/irving-h-picard/timeline"}