By Jennifer Glickel
DNAinfo Reporter/Producer
MANHATTAN — Victims of disgraced Ponzi schemer Bernie Madoff will finally see $7.2 billion now that a U.S. bankruptcy judge has approved the settlement of a lawsuit brought against one of Madoff's wealthiest clients, Jeffry Picower, according to published reports.
Judge Burton Lifland signed off on a deal that will distribute the $7.2 billion to Madoff's victims from the estate of Picower, who died of a heart attack while swimming in his West Palm Beach swimming pool in 2009.
"This is a unique and great day for customers of [Madoff's firm]," the Associated Press quoted trustee attorney David Sheehan as saying at a hearing in federal bankruptcy court on Thursday.
Irving Picard, a trustee working to recover money for Madoff investors, reached the settlement last month with Picower's widow Barbara, who agreed to turn over the money her husband received from the Ponzi scheme so it could be returned to victims.
Mrs. Picower nevertheless denied that her late husband knew anything about Madoff's scheme.
"It was totally appropriate and correct and very beneficial to the victims," Picard told CNNMoney.
Madoff is currently serving a 150-year prison sentence for defrauding investors of about $65 billion.
