Exclusive: Bernie Madoff Says He Was a 'Basket Case' After Son's Suicide


"I wouldn't give them any facts, like how much volume I was doing. I was not willing to have them come up and do the due diligence that they wanted," Madoff told New York Magazine. "I absolutely refused to do it. I said, 'You don't like it, take your money out,' Which of course they never did."

Though a trustee representing the victims of Madoff's Ponzi scheme is in the midst of several lawsuits with major investors over ill-gotten profits, Madoff told New York Magazine "most" of his individual clients were not net losers in the fraud.

"I made a lot of money for them," he said. "I was making 20 percent returns for them for years -- all the A and B clients, all my friends, everybody else. It was the people that came in very late in the game that got hurt.

"I'm confident that when this thing is all finished, [that] very few people, if any, will lose their principal," he said.

One group of "friends" that does stand to lose their principal, along with billions in profits, is the Wilpon family, who own the Mets and who were long-time investors with Madoff.

Fred Wilpon said earlier this month he knew "not one iota" about Madoff's multi-billion-dollar investment fraud, and that his family would be vindicated of any complicity in the multi-billion-dollar Ponzi scheme, despite a lawsuit claiming otherwise.

"We didn't do anything wrong," Wilpon said at the baseball team's Port Lucie, Florida spring training camp. "If anything we trusted a friend for a very long time, and as I told you a few months ago, that betrayal was very difficult for me."

"This was a man who we were friends with for 35 years and investors for 25 years."

A recent court filing by the trustee representing Bernie Madoff's victims, and a previous interview with the Ponzi schemer himself, have renewed public scrutiny of the long business and personal relationship between the Madoff and Wilpon families, and raised questions about the fiscal health of the National League franchise.

While Madoff assured a New York Times reporter that the Wilpons were blameless, bankruptcy trustee Irving Picard has asked the Mets owners for $300 million and released emails showing that there were doubts about Madoff's profits within the Wilpons investment firm.

ABC News Chief Investigative Correspondent Brian Ross told "The Charlie Rose Show" on Feb. 16 that representatives of Picard's firm say Madoff seems to be protecting "certain people," including "close friends who were mostly winners in this scheme," and that "Picard is going after [the Wilpons] in a very aggressive way."

"Between $300 [million] and $1 billion is the number that they think they'll get out of him," said Ross on "The Charlie Rose Show." "Three-hundred-million would be the fictitious profits they took out and then under the law if they can show that the Wilpons knew it was a fraud they're not supposed to get back the capital they put in initially."

CLICK HERE to watch Rose's interview with Ross.

New York Magazine will publish additional Madoff tapes throughout the week.

Click Here for the Blotter Homepage.

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