New Bernie Madoff Interview: Predicts Victims Will Come Out Ahead
Bernie Madoff was recently interviewed in prison by Financial Times. Like always, he takes full responsibility and insists none of his family members were involved. He says his illegal activity began in the 90's. The trustee has said Bernie's illegal activities began in the 80's. He also predicts the trustee will not only recover all the principal invested by the victims, but some profits as well:
“I said at the very beginning when I met with the SEC and Picard that my hope is that everyone will receive their principal [which amounts to $20bn]. Back then, everyone laughed. But [Picard] has already recovered $10bn and he will cover $20bn easily. If he is successful, he may get $50bn. That means that there will be $30bn profits to go around, which would make me one of the greatest money managers in modern history.”
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