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Madoff Whistleblower Markopolos Speaks To 60 Minutes

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Television news show 60 Minutes interviewed Madoff whistleblower Harry Markopolos on Sunday.

The financial analyst spent eight years trying to bring attention to the $50 billion ponzi scheme, but was repeatedly rebuffed by the Securities and Exchange Commission.

He is a reluctant hero, according to the 60 Minutes interview:

"There's nothing to be proud about in this case. I feel horrible about the result. It's been a total disaster for the victims," Markopolos told 60 Minutes correspondent Steve Kroft in the interview.

As for Markopolos' discovery of the fraud, he said:

"It took me five minutes to know that it was a fraud. It took me another almost four hours of mathematical modeling to prove that it was a fraud. "

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