NEW YORK (CBSNewyork/AP) — 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 Monday in a Manhattan trial that lasted nearly six months and featured more than 40 witnesses. 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, WCBS 80’s Irene Cornell reported.
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.