04/02/2009 05:12 am ET Updated Dec 06, 2017

Madoff Whistleblower Markopolos Speaks To 60 Minutes

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. "