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Madoff's Victims May Still Have More To Lose

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Madoff's Victims May Still Have More To Lose

Madoff's Victims May Still Have More To Lose

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ROBERT SIEGEL, Host:

We're joined now by NPR's Jim Zarroli. And, Jim, Mark Madoff worked at his father's firm for years, made a lot of money there. Did authorities believe him when he said he didn't know what was going on?

JIM ZARROLI: But a lot of people just found it impossible to believe he could have worked there for so long and not known what was happening.

SIEGEL: Mark Madoff did not face criminal charges, as you've said, but he is named in a civil suit. Tell us about that.

ZARROLI: And for someone like Mark Madoff, that was a real problem because he had trouble getting a job. He had that name, that notorious name. So no one wanted to hire him.

SIEGEL: But as you say, Picard is seeking to have the Madoff money end up returned to investors. How much money are we talking about?

ZARROLI: The people who ran these funds got huge amounts of money from Madoff. You know, some people might say they were kickbacks, and Picard is going after them. And he's already gotten some money, including $500 million from a Swiss hedge fund company, and more than $600 million from a Boston firm that shared office space with Madoff.

SIEGEL: Now, there's also a federal criminal investigation taking place now. How far along is that?

ZARROLI: So the idea is that some of these back-office people at the Madoff firm could provide evidence against the bigger players. That seems to be what the government is doing right now to build its case.

SIEGEL: Okay. Thank you, Jim.

ZARROLI: You're welcome.

SIEGEL: That's NPR's Jim Zarroli, talking to us from New York.

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