01 Mar '11, 12am

Bernie Madoff, jailed 150 years for fraud, said he was misunderstood & actually made a lot of people rich

Bernie Madoff, jailed 150 years for fraud, said he was misunderstood & actually made a lot of people rich

'All of my friends, all of, most of my clients, the individual clients, are not net losers. I made a lot of money for them. I was making 20 per cent returns for them,' Madoff, 72, said. -- PHOTO: AP NEW YORK - BERNARD Madoff, in prison for the biggest pyramid scheme fraud in Wall Street history, says that in reality he made a lot of people rich and that he suffered alone. In a lengthy telephone interview from prison to New York Magazine, the man described across the United States as a monster, says he is misunderstood - and that some of his biggest victims were themselves to blame. 'All of my friends, all of, most of my clients, the individual clients, are not net losers. I made a lot of money for them. I was making 20 per cent returns for them,' Madoff, 72, said. 'It was the people who came in very late in the game that, that, that got hurt. So, did I make a lot of money ...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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