So, if a client unwittingly invested in a Ponzi scheme but, by some stroke of lightning, ended up making money, should the client be forced to give up the profits? You're darn right he or she should. And that's exactly what's going on now in the Bernard Madoff recovery sweepstakes.

Trustee Irving Picard is going after all the "winners," seeking to claw back as much of their profits as possible. In the end, people should realize it was all simply too good to be true. Carl Shapiro, an apparel magnate and long-time friend of Madoff's, has seen that light and agreed to give back $625 million, which will eventually be divvied up among victims.

Lots of other people are being asked to give back funds. Picard is pursuing deals with a range of firms, one of which counts owners of the New York Mets as clients. The Mets organization was forced to put out a release noting the franchise is not at risk in any way.

Picard faces a pressing deadline by which he has to file papers to recover assets. He has already filed papers for dozens of possible clawbacks. Hopefully, many will be able to follow the lead of Shapiro and his family--not that it will fully compensate victims.

For more:
- here's the Boston Globe article

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