The trustee recovering money for Bernard Madoff's burned investors has reached a settlement with the estate of a Florida philanthropist.
Court-appointed trustee Irving Picard plans an announcement Friday in Manhattan about the estate of Jeffry Picower.
The amount of the settlement was not immediately made public.
Picower made billions of dollars off Madoff's pyramid scheme. He drowned after suffering a heart attack in the swimming pool of his Palm Beach, Fla., mansion on Oct. 25, 2009.
His will had earmarked most of his fortune for charity.
Copyright AP - Associated Press
