The trustee liquidating Bernard Madoff's firm on Friday began distributing another $1.19 billion to victims of the swindler's Ponzi scheme.Irving Picard, the trustee, said the payout will boost distributions to more than $9.16 billion.Next week marks the seventh anniversary of the uncovering of Madoff's decades-long fraud. Madoff, 77, pleaded guilty in March 2009 and is serving a 150-year prison term.The latest payout will go to holders of 1,071 accounts at the former Bernard L. Madoff Investment Securities LLC.Picard said he will make individual distributions ranging from $1,298 to $202 million.Once they are made, 1,269 of the 2,238 Madoff accounts with valid claims will have been fully satisfied, and everyone owed $1.16 million or less will have been paid in full, the trustee said.Picard has recovered or reached agreements to recover roughly $10.91 billion, about three-fifths of the $17.5 billion of principal he has said Madoff customers lost.
