Madoff victims branded 'greedy' as court case begins

As the US court case got under way yesterday victims demanded up to 9% interest should be paid on the money they invested in the scheme. Bankruptcy trustee Irving Picard does not think interest should be paid out as it would reduce the pool of money that he can return to other victims of the fraud. The Times reports he has $3bn (£1.9bn) to distribute almost immediately - but this would be reduced by 50% if the investors were given a 9% interest rate. However, the report said judge Burton Lifland ruled Picard should hold back about $600m to cover 3% interest payments, should it be r...