Baker & Hostetler set to make $100 million in legal fees after Madoff ponzi scheme

October 12, 2010 Bernard Madoff may have been a scourge to his investors, but legal work on the infamous Ponzi schemer's bankruptcy continues to pay handsome dividends for Baker & Hostetler.

Baker partner Irving Picard, court-appointed trustee in the bankruptcy, has personally been awarded more than $35 million in fees and expenses for work done by his firm in the case.

The Wall Street Journal has reported that a federal judge approved $37.6 million in legal fees in connection with the liquidation of Bernard Madoff's investment firm, over the objections of some victims of Mr. Madoff's multibillion dollar Ponzi scheme.


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