Madoff swindle costs $21.2bn

THE total amount lost in Bernard Madoff&rsquo;s fraudulent Ponzi scam has now climbed to $21.2bn (&pound;12.9bn) &ndash; a stark rise from the $13bn the government estimated in June.<br /><br />Court appointed trustee Irving Picard yesterday said that after examining accounts dating back to 1983 the losses were deeper than previously thought and said &ldquo;there definitely will be further lawsuits&rdquo;.<br /><br />The Securities Investor Protection Corporation has so far repaid $534m to 1,368 Madoff victims &ndash; less than three per cent of the $21.2bn that has been lost.