SUBJECT-11358.dossier · person · status: active
IP
subject of file

Irving H. Picard

SIPA Trustee, BLMIS Liquidation
Tracked because Architect of the largest fraud-recovery effort in U.S. history; counterparty in JPMorgan settlement.
Editorial summary · AI-drafted from public records

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.

Facts on record2
Connections mapped16
Sources cited10
✦ Thin coverage gap +55 connected to 16 entities · only 2 facts on record · flagged for follow-up research
Evidence: 1P 1S
Network web → Timeline → Compare with… → Position Drift → Coverage tone → View on Graph → View Card → Export CSV JSON Dossier ← Entity Directory
Stated vs Revealed
No documented contradictions on file.
[PUBLIC COST ESTIMATE]
Documented financial relationships span 0 money flow chains, while 1 elected official holds documented connections.
0Money Chains
0Traced Hops
Connected Officials
Calculation Methodology

Contract values are summed from documented money flow chains where this entity appears as a source or destination node. Amounts are drawn from USASpending.gov, FEC filings, SEC EDGAR, or LD-2 lobbying registrations.

Donor contributions aggregate documented amounts from the donor_interests table, sourced from FEC individual and PAC contribution filings.

Connected officials are elected officials in our database with a mapped relationship (lobbying, board membership, campaign contribution, etc.) to this entity.

Annualised flow represents the total documented dollar amount traced through money flow hops involving this entity. Where hop-level amounts are unavailable, the chain-level documented total is used as a conservative upper bound.

All figures are drawn from public filings. Estimates are conservative — undisclosed transactions, dark money, and vanish-point hops are excluded from totals. This is a minimum documented floor, not a ceiling.

PATTERN organization → [donor] → person → [no connection found] →... 48× PATTERN person → [no connection found] → person → [donor] → organ... 48× PATTERN company → [donor] → person → [no connection found] → person 3× PATTERN person → [no connection found] → person → [donor] → company 3×
TIMELINE Role Overlap Visualizer →
Connection Map
Key Connections
← Robert I. Schulman person
defendant in trustee action
Named in SDNY SIPA trustee actions (filed by trustee Irving H. Picard) over the Tremont/Rye Madoff feeder losses.
← Bernard L. Madoff Investment Securities company
liquidation_trustee
Picard appointed SIPA Trustee for BLMIS liquidation December 15, 2008; recovered or committed $14.7B+ for victims as of 2024.
← Bernie Madoff person
trustee_for_victims
Irving Picard was appointed as the court-appointed trustee to recover funds for Madoff's victims, overseeing the largest fraud recovery in US history.
← Fairfield Sentry Limited company
related in legal proceedings
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).
← Jeffry Picower person
subject_of_recovery
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.
← Carl Shapiro person
legal/trustee relationship
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.
← Tremont Capital Management company
legal settlement
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.
Facts (2)
Data Freshness
Ageing Last update: 160d ago · Avg age: 2009d
Confidence Tiers: Primary Source — cross-referenced government/corporate filings Pending Review — sourced but not independently verified AI Inference — analytical hypothesis from cross-referencing
✓ Verified Findings (2)
Independently re-checked: a second model read the source artifact and confirmed it supports the extracted claim.
✓ verified Partially Corroborated 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.
✓ verified Primary Source Appointed SIPA Trustee for the BLMIS liquidation December 15, 2008 by the Securities Investor Protection Corporation; partner at Baker Hostetler.
All Connections (16)
settlement secondary since 2011-05-09
Fairfield Greenwich affiliates settled with the BLMIS SIPA Trustee Irving Picard in May 2011 for approximately $80 million.
settlement secondary since 2009-05-26
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.
settlement secondary since 2011-07-28
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.
→ Kingate Global Fund company
settlement inferential since 2014-01-01
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.
← Frank DiPascali person
trustee secondary
Court-appointed SIPC trustee for the liquidation of BLMIS, whom DiPascali's cooperation assisted in recovering assets.
liquidation_trustee primary since 2008-12-15
Picard appointed SIPA Trustee for BLMIS liquidation December 15, 2008; recovered or committed $14.7B+ for victims as of 2024.
← Bernie Madoff person
trustee_for_victims primary since 2009
Irving Picard was appointed as the court-appointed trustee to recover funds for Madoff's victims, overseeing the largest fraud recovery in US history.
← Jeffry Picower person
subject_of_recovery primary since 2010
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.
← Carl Shapiro person
legal/trustee relationship primary since 2010
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.
← Mark Madoff person
legal/proceeding secondary since 2009
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.
← Andrew Madoff person
legal_proceeding secondary since 2008
Trustee in the Madoff bankruptcy/liquidation proceedings, likely involving claims against the firm and its employees.
← Carlo Grosso person
potential_legal_target_in_Madoff_liquidation inferential since unknown
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.
related in legal proceedings primary since 2009
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).
legal settlement primary since 2011
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.
← Robert I. Schulman person
defendant in trustee action primary since 2008
Named in SDNY SIPA trustee actions (filed by trustee Irving H. Picard) over the Tremont/Rye Madoff feeder losses.
← Pat Harrigan person
no_connection_found inferential since 2024
No connection found between Pat Harrigan and Irving H. Picard in the provided data.
Sources (10)
2012-02-14 ↗ SEC EDGAR: SC 13G — Picard Irving H. Trustee (2012-02-14) sec_filing Processed 📜 Receipt
2011-02-22 ↗ SEC EDGAR: SC 13G — Picard Irving H. Trustee (2011-02-22) sec_filing Processed 📜 Receipt
2026 UNVERIFIED Research: Irving H. Picard — FEC donations (no results) fec_record Processed 📜 Receipt
2026 UNVERIFIED Research: Irving H. Picard — SEC filings (no results) sec_filing Processed 📜 Receipt
2026 UNVERIFIED Research: Irving H. Picard — Parliamentary records (no results) parliamentary_record Processed 📜 Receipt
2026 UNVERIFIED Research: Irving H. Picard — Lobbying disclosures (no results) government_disclosure Processed 📜 Receipt
2026 UNVERIFIED Research: Irving H. Picard — Court records (no results) court_document Processed 📜 Receipt
2011-02-22 ↗ SEC EDGAR: filing — Irving H. Picard (2011-02-22) sec_filing Processed 📜 Receipt
2012-02-14 ↗ SEC EDGAR: filing — Irving H. Picard (2012-02-14) sec_filing Processed 📜 Receipt
2026-05-09 UNVERIFIED SEARCH_ERROR: Irving H. Picard not found in fec claim_flag Processed 📜 Receipt