Over $1B in Madoff assets recovered

$63 Billion still missing

A lawyer for the trustee seeking to locate assets belonging to self-confessed Wall Street scammer Bernie Madoff said today that more than $1 billion has been located - far less than the staggering $64 billion the feds said he stole from investors.

Lawyer David Sheehan said $75 million located in an account in the tiny British territory of Gibraltar raises the amount being pursued past the $1 billion mark.

Madoff, 70, was jailed two weeks ago after he pleaded guilty to orchestrating a Ponzi scheme where he ripped off thousands of investors.

Madoff faces 150 years behind bars when he is sentenced in June.

Sheehan revealed the amount following a hearing in which the trustee was seeking the power of attorney over Madoff's international operation.