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Matthew Schwartz

Bernard Madoff (file/credit: Mario Tama/Getty Images)

Lawyer: Former Madoff Employee On Trial For Ponzi Scheme Fraud ‘Fooled By His Lies’

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.

10/17/2013

Bernard Madoff

Trial Begins For 5 Former Madoff Employees Accused Of Helping In Largest-Ever Ponzi Scheme

Prosecutor Matthew Schwartz introduced the government’s case Wednesday, saying the defendants “helped perpetuate Madoff’s elaborate fiction.” The Manhattan federal court trial is expected to last five months.

10/16/2013