safer: so this was the scene of the crime. irving picard gave us a tour of bernie madoff s 19th-floor offices, an impressive landscape of emptiness. his desk was here. safer: picard has the thankless task of finding the money, the billions that madoff scammed. (watch ticking) arlan galbraith who called himself the pigeon king convinced hundreds of american and canadian farmers there was good money to be made raising the birds for food. and everybody we talked to said this guy was he was on the up and up. nobody had a bad word to say about him. (watch ticking) stahl: welcome to 60 minutes on cnbc. i m leslie stahl. in march 2009, bernard madoff pleaded guilty to perpetrating what s believed to be the largest financial fraud in history. he received the maximum sentence for his crime, 150 years in prison. but while madoff is behind bars, there s still much we don t know about the scam which involved, by some accounts, a fraud of more than $50 billion. investigators
good? no one s that good. kroft: harry said there were only two plausible explanations: either madoff was using insider information to rack up huge profits or he was running a giant ponzi scheme. so either way, he was doing something illegal? either way, i knew he was gonna go to prison. kroft: in may of 2000, markopolos took his suspicions about bernie madoff to the boston office of the securities and exchange commission. did you have any financial motive? yes. he was a competitor of mine in 2000 to 2004 while i was still in the industry, and when someone s competing on your playing field who s a dirty player, you want him tossed off the field. kroft: he also thought he might be eligible for a sizable reward if the fraud involved insider trading, but that turned out not to be the case. in your first letter to the sec back in 2000, you re a little tentative. you say, look, i have no smoking gun. in 2000, it was more theoretical. in 2001, it was a little bi
safer: so this was the scene of the crime. irving picard gave us a tour of bernie madoff s 19th-floor offices, an impressive landscape of emptiness. his desk was here. safer: picard has the thankless task of finding the money, the billions that madoff scammed. (watch ticking) arlan galbraith who called himself the pigeon king convinced hundreds of american and canadian farmers there was good money to be made raising the birds for food. and everybody we talked to said this guy was he was on the up and up. nobody had a bad word to say about him. (watch ticking) stahl: welcome to 60 minutes on cnbc. i m leslie stahl. in march 2009, bernard madoff pleaded guilty to perpetrating what s believed to be the largest financial fraud in history. he received the maximum sentence for his crime, 150 years in prison. but while madoff is behind bars, there s still much we don t know about the scam which involved, by some accounts, a fraud of more than $50 billion. investigators
Transcripts For CSPAN2 U 20130611 archive.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archive.org Daily Mail and Mail on Sunday newspapers.
federal prison. by comparison, madoff was sentenced to 150 years.0 ten-ye federal prison. by comparison, madoff was sentenced to 150 years.ten-year federal prison. by comparison, madoff was sentenced to 150 years.en-years federal prison. by comparison, madoff was sentenced to 150 years.n-years federal prison. by comparison, madoff was sentenced to 150 years.-years i federal prison. by comparison, madoff was sentenced to 150 years. tom petters sentenced to 50 years in prison. stamford denied he committed fraud and blaming the government for ruining his business. when accusations first surfaced, he had some famous confrontation over whether he was helping banks launder mexican drug cartel money. the only thing i would ever say about something like that in terms of allegation is if you say to my face again, i will punch you in the mouth. you re going to pump me in the mouth? no, i won t punch you in the mout, but that is ludicrous to say. still ahead on way too early, the thunde