Five former employees of imprisoned financier Bernard Madoff have been convicted of conspiracy for helping him carry out his massive Ponzi scheme.
The verdicts came today in a Manhattan trial that lasted nearly six months. The federal court trial was the first to result from the multi-decade fraud that landed Madoff in prison for 150 years. The jury deliberated for nearly a week before coming back with across-the-board guilty verdicts.
The defendants are all former employees of Madoff’s securities firm. They were accused of enriching themselves while telling an elaborate web of lies for decades. The fraud cheated investors of billions of dollars and duped government regulators.
Those on trial were computer programmers George Perez and Jerome O’Hara; Annette Bongiorno, Madoff’s longtime secretary; Daniel Bonventre, his director of operations for investments and JoAnn Crupi, an account manager. Lawyers for the ex-employees had argued their clients, much like the investors, were duped by Madoff.
Read more at CBS NY.