NEW YORK - MARCH 10: Accused $50 billion Ponzi scheme swindler Bernard Madoff exits federal court March 10, 2009 in New York City.
Madoff was attending a hearing on his legal representation and is due back in court Thursday. (Photo by Mario Tama/Gett A court-appointed trustee has recovered more than $13 billion of an estimated $17.5 billion that investors put into Madoff’s business.
At the time of Madoff's arrest, fake account statements were telling clients they had holdings worth $60 billion.AdvertisementFor decades, Madoff enjoyed an image as a self-made financial guru whose Midas touch defied market fluctuations.