The trustee in charge of recovering the Madoff money alleges that the Picower family withdrew at least $6.7 billion from Madoff accounts. About $5.1 billion, according to the trustee, is based on fraudulent return rates dating back to December 1995.
In documents submitted to the court, the trustee alleges that the Picowers made nearly 700 withdrawals from more than a dozen Madoff accounts since December 1995. The chart below shows the withdrawals summed up by year. The peak year is 2003 with a sum more than $1 billion. It’s unknown why the annual amount drops precipitously afterwards. Return to main story.
The tables below show the data in three forms:
- The withdrawals summed up by year
- The withdrawals grouped by account; the account named “Decisions Incorporated” was by far the largest.
- Every withdrawal by date
Sum of Withdrawals by Year
| Year | Withdrawals | Sum |
|---|---|---|
| 1995 | 3 | $50,240,000 |
| 1996 | 84 | $390,751,188 |
| 1997 | 68 | $420,959,554 |
| 1998 | 59 | $506,065,516 |
| 1999 | 57 | $590,835,236 |
| 2000 | 61 | $658,061,313 |
| 2001 | 64 | $821,000,950 |
| 2002 | 52 | $922,221,107 |
| 2003 | 52 | $1,025,301,463 |
| 2004 | 44 | $480,151,300 |
| 2005 | 40 | $468,316,059 |
| 2006 | 37 | $165,025,910 |
| 2007 | 35 | $216,450,976 |
| 2008 | 14 | $30,685,976 |
| Total | 670 | $6,746,066,548 |
Sum of Withdrawals by Account Name
| Account name | Withdrawals | Sum |
|---|---|---|
| Decisions Incorporated | 78 | $5,771,339,795 |
| The Picower Foundation | 93 | $290,945,000 |
| Ja Special Ltd Partnership | 15 | $253,264,295 |
| Decisions Incorporated #6 | 1 | $125,000,000 |
| Ja Primary Ltd Partnership | 3 | $84,052,739 |
| Jln Partnership | 48 | $69,052,885 |
| The Picower Institute For Medical Research | 77 | $44,093,519 |
| Jeffry M Picower Special Co | 45 | $41,472,500 |
| Jab Partnership | 46 | $35,242,921 |
| Jemw Partnership | 48 | $8,910,980 |
| Trust Fbo Gabrielle H Picower | 27 | $8,144,500 |
| Capital Growth Company | 39 | $6,145,495 |
| Barbara Picower | 52 | $4,430,000 |
| J F Partnership | 48 | $3,887,678 |
| Jeffry M Picower | 50 | $84,241 |
