Next Madoff payouts planned for September

Investors in Wall Street financier Bernard Madoff's multibillion-dollar

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Investors in Wall Street financier Bernard Madoff's multibillion-dollar Ponzi scheme lost about $17.5 billion in the fraud. (March 12, 2009) (Credit: Getty Images)

Billions of dollars could go out as early as September to victims of Bernard Madoff under a plan outlined Thursday by the trustee handling the search for assets in the giant Ponzi scheme.

In papers filed in federal bankruptcy court, trustee Irving Picard asked for approval of another distribution of recovered funds, ranging from $1.5 billion to $2.4 billion. The cash could mean that the 1,229...

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