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May 18, 2011 / 4:26 PM

Lawyers in Madoff case earn $318.4 million

Bernard Madoff arrives at Federal Court where he is expected to plead guilty to securities fraud charges on March 12, 2009 in New York. Victims will also be in court to testify against the disgraced financier who is accused of masterminding a $50 billion Ponzi scheme. (UPI Photo/Monika Graff)

Bernard Madoff arrives at Federal Court where he is expected to plead guilty to securities fraud charges on March 12, 2009 in New York. Victims will also be in court to testify against the disgraced financier who is accused of masterminding a $50 billion Ponzi scheme. (UPI Photo/Monika Graff) | License Photo

NEW YORK, May 18 (UPI) -- More money has been paid to lawyers in the case of New York Ponzi scheme operator Bernard Madoff than is available for fraud victims, a court filing says.

Lawyers and consultants charged with recovering funds for victims of Madoff's $65 billion fraud have been paid $318.4 million, the New York Post reported Wednesday.

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Court-appointed trustee Irving Picard's law firm has been paid $148.9 million, while other consultants associated with the case have been paid $152.5 million, a court filing said.

Picard, meanwhile, has recovered more than $7.6 billion, however, the vast majority of that is unavailable, frozen by various court cases.

Madoff was sentenced to 150 years in prison for operating the scheme, thought to be the largest fraud in U.S. history.

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