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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/46bn-boost-for-madoff-investors.jpg"><img class="alignnone size-full" title="The trustee recovering money for Bernard Madoff's cheated investors has reached a 4.6 billion pounds settlement (AP)" src="http://londonglossy.com/wp-content/uploads/2010/12/min-46bn-boost-for-madoff-investors.jpg" alt="The trustee recovering money for Bernard Madoff's cheated investors has reached a 4.6 billion pounds settlement (AP)"/></a></p>
<p>The trustee recovering money for Bernard Madoff&#8217;s cheated investors has reached a 7.2 billion US dollar (£4.6 billion) settlement with the estate of a Florida philanthropist who had been the single-largest beneficiary of the fraud.</p>
<p>The settlement with the estate of Jeffry Picower was detailed in court papers in Manhattan, New York.</p>
<p>US lawyer Preet Bharara called it &#8220;a truly historic settlement&#8221; and a &#8220;game changer for Madoff&#8217;s victims&#8221;.</p>
<p>Barbara Picower, representing her late husband&#8217;s estate, entered into the agreement with the US lawyer&#8217;s office.</p>
<p>She said in a statement that her husband was &#8220;in no way complicit&#8221; with Madoff&#8217;s fraud and added that the estate would &#8220;return every penny received&#8221; through Madoff investments.</p>
<p>Mr Picower drowned after suffering a heart attack in the swimming pool of his Florida mansion in 2009.</p>
<p>Madoff, the disgraced financier, is serving a 150-year sentence after confessing to the biggest investment fraud in US history, a decades-long Ponzi scheme that took billions from investors.</p>
<p>His eldest son Mark Madoff, 46, hanged himself last week on the second anniversary of his father&#8217;s arrest.</p>
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