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Trustee: Madoff Victims Could Get All Their Money Back

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Bernard L. Madoff leaves US Federal Court after a hearing regarding his bail on January 14, 2009 in New York. Madoff will remain free on bail, a US judge ruled Wednesday, rejecting a bid by prosecutors to detain Madoff pending trial.     AFP PHOTO / TIMOTHY A. CLARY (Photo credit should read TIMOTHY A. CLARY/AFP/Getty Images)

Bernard L. Madoff leaves US Federal Court after a hearing regarding his bail on January 14, 2009 in New York. Madoff will remain free on bail, a US judge ruled Wednesday, rejecting a bid by prosecutors to detain Madoff pending trial. AFP PHOTO / TIMOTHY A. CLARY (Photo credit should read TIMOTHY A. CLARY/AFP/Getty Images)

420x316-grad-silva Anthony Silva
Anthony Silva is co-host of the WBZ Afternoon News heard each wee...
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BOSTON (CBS) — The investors who lost billions of dollars in the Bernie Madoff Ponzi Scheme may actually get all of their lost investments back.

WBZ New England Business Editor Anthony Silva spoke with the court-appointed trustee in the case

Madoff Victims To Be Reimbursed $12B Total

bernie madoff Trustee: Madoff Victims Could Get All Their Money Back
WBZ NewsRadio 1030

Court appointed trustee Irving Picard says about 800 legal cases remain unresolved but he’s confident everyone will be reimbursed. Tuesday’s payout is the fourth in the Madoff recovery efforts.

“We’re pleased with what we’ve done, but we’re still striving to get 100-percent back to the people who lost money,” Picard told WBZ NewsRadio 1030.

Madoff was head of Wall Street firm Bernard L. Madoff Investment Securities LLC from 1960 until his 2008 arrest when he admitted the wealth management division of his business was an elaborate Ponzi scheme. Madoff is currently serving a 150-year prison sentence for defrauding investors out of more than $12 billion.

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