prosecutor John Zach told jurors Tuesday that Madoff depended on his former secretary, his former head of operations, an account manager and two computer programmers to keep his fraud alive for four decades.
Convicted swindler Bernie Madoff’s secretary took the stand nearly five years after her former boss went to prison.
Daniel Bonventre has pleaded not guilty to fraud charges. Authorities say he cooked the books to throw off regulators.
Bernard Madoff placed no premium on further education for the employees he hired right out of high school — the less they knew, the better — the Ponzi schemer’s longtime lieutenant testified Monday.
The cross-examination of the government’s star witness in the trial of five of Bernard Madoff’s former empoyees has given the jury new insight into the way disgrace financier ran his massive Ponzi scheme.
Frank DiPascali testified that his boss would “razzle dazzle” auditors by using computer programs specially designed to make it appear that fake investments were real.
Bernard Madoff’s former right-hand man is about to take center stage at the trial of five former co-workers. Prosecutors plan to call Frank DiPascali to the witness stand this week in federal court in Manhattan.
Enrica Cotellessa-Pitz, who worked for Madoff for three decades, is testifying against five former colleagues in exchange for leniency.
The trial against five of Bernard Madoff’s former employees continued Wednesday with testimony from consultants who investigated the firm following Madoff’s arrest.
The trial follows the 2008 collapse of Madoff’s private investment business, which cost clients nearly $20 billion. A court-appointed trustee has recovered much of the money by forcing those customers who received big payouts from Madoff to return the funds.
Five former employees of imprisoned Ponzi scheme operator Bernard Madoff were introduced to 200 prospective jurors Tuesday, as jury selection began in their fraud trial.
Bernard Madoff’s former secretary has made bail and will await her New York trial while on house arrest.
U.S. District Judge Laura Taylor Swain rejected the arguments by lawyers for 62-year-old Annette Bongiorno that her husband should be allowed to post money from his bank accounts to support a bail package.
Federal Judge Laura Taylor Swain noted that Annette Bongiorno concedes she has $2.4 million. Prosecutors say Madoff’s 62-year-old longtime secretary likely has stashed away millions more.
The lawsuit was filed in the U.S. Bankruptcy Court for the Southern District of New York.