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A trustee recovering money for investors who lost billions of dollars through Wall Street swindler Bernard Madoff’s dealings says he has secured more than $1 billion through settlements with associates of the second-largest feeder fund group to invest with Madoff. Trustee Irving Picard of Baker & Hostetler yesterday announced the settlement will boost recoveries of money available to jilted investors to more than $8.6 billion. He said that is nearly half the approximately $17.3 billion in principal lost by Mr. Madoff, who pleaded guilty to federal fraud charges and is serving a 150-year prison sentence.

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