Irving Picard
Irving Picard was born in Fall River, Massachusetts, United States on June 26th, 1941 and is the American Lawyer. At the age of 82, Irving Picard biography, profession, age, height, weight, eye color, hair color, build, measurements, education, career, dating/affair, family, news updates, and networth are available.
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Picard graduated from the Wharton School, University of Pennsylvania with a B.S. degree in Economics (1963), from Boston University School of Law with a J.D. degree (1966), and from the New York University School of Law with an LL.M. degree (1967).
In the 1970s, he was variously Assistant General Counsel, Acting Chief Counsel, and Trial Attorney in the Division of Corporate Regulation of the Securities and Exchange Commission. He was admitted to the New York Bar in 1982, and has been in private practice since then. He joined the law firm of BakerHostetler as a partner in 2008.
In 2008, U.S. District Judge of the Southern District of New York Lawrence McKenna appointed Picard trustee of assets seized by the court from Bernard Madoff. Since then, Picard has led the recovery of funds from the Madoff investment scandal. He and his team have been overseeing the liquidation of Bernard Madoff's firm in bankruptcy court, and have so far recovered over $13 billion — about 76 percent of approved claims — by suing those who profited from the scheme even if those individuals were unaware or uncharged.
Kathy Bazoian Phelps, a lawyer at Diamond McCarthy, said "That kind of recovery is extraordinary and atypical", as clawbacks in such schemes range from 5 percent to 30 percent, and many victims don't get anything. Picard has successfully pursued not only investors, but also spouses and estates of those who profited, such as the widow and estate of the deceased Stanley Chais, and the widow and estate of the deceased Jeffry Picower, with whom he reached a $7.2 billion settlement (the largest civil forfeiture payment in US history). His most notable case was Ruth Madoff, the wife of Bernard Madoff. "You don’t take this job if you're thin-skinned", Picard once said.