NEW YORK -- The trustee recovering money for Bernard Madoff's burned investors has reached a $7.2 billion settlement with the estate of a Florida philanthropist and businessman who had been the single-largest beneficiary of the fraud.
Court-appointed trustee Irving Picard planned an announcement Friday in Manhattan about the estate of Jeffry Picower, who drowned after suffering a heart attack in the swimming pool of his Palm Beach, Fla., mansion on Oct. 25, 2009.
