MADOFF INVESTORS HEARING


Irving Picard, partner at Baker & Hostetler LLP, pauses during an interview outside U.S. Bankruptcy Court in New York, U.S., on Tuesday, Feb. 2, 2010. The judge overseeing the liquidation of Bernard Madoff’s defunct business is hearing arguments today from victims who say that years worth of fake profit from the fraud should be included in their claims for repayment. Thousands of customers have objected to trustee Irving Picard’s methodology, arguing he is wrongfully setting claims based on their cash deposits minus withdrawals instead of using the amounts on Madoff’s final account statements. Photographer: Daniel Acker/Bloomberg *** Local Caption *** Irving Picard

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