250 million in administrative costs. Less than 1 million recovered. I can't believe this. What a fucking waste. Where the hell does the SIPC get their money from? Are they government? I can already tell how this went down: "So how much money you need?" "Umm 100 million... heh heh" "250 million you say? heh heh heh (evil grin) Bastards.
Sounds like billing fraud. Class action claim against the trustee. have them produce all time & billing records for each attorney. Ask the judge reduce their reimbursement rate to that of court appointed public defenders.
Hate to break the news to ya, but I'm pretty sure the $849K came from clawbacks. No rocket science here.
I don't think so. obviously the clawbacks have not even started yet, if they had the recovery would certainly be more than you state.
LOL I guess no one here read the book "Bleak House" by Charles Dickens. I am not surprised one bit. The whole thing is right out of a Charles Dickens novel.
I have said it before and I will say it again. The court system exists to make a very good living for attorneys. What they taught you in school is secondary to it's true purpose.