The man in charge of unwinding Bernie Madoff's massive Ponzi Scheme appeared on 60 Minutes last night, in one of his first major public appearances. (Scroll down to watch the segment)
Sitting down with Morley Safer, Irving Picard and his chief counsel David Sheehan focused squarely on Madoff's two sons, Mark and Andrew. In a segment ominously called "The Liquidator," Picard said Madoff's sons used the company accounts like their "personal piggy bank" and took home over $80 million in compensation from the Madoff scam over the last seven years. In total, Picard and Sheehan are looking to recover $198 million in compensation and loans given to Madoff's sons over the years.
Monday, September 28, 2009
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