Victims of Bernard Madoff’s Ponzi scheme can expect to soon receive about $1.42 billion to help cover their losses, after two U.S. judges on Wednesday authorized the payouts. In the first payout, customers who invested directly with Madoff will receive about $1.18 billion from Irving Picard, the trustee liquidating Bernard L. Madoff Investment Securities LLC. Separately, former customers of J. Ezra Merkin, a New York money manager who funneled their money to Madoff through his Ariel and Gabriel Capital “feeder funds,” will receive nearly $236 million, court papers show.