Thursday, 18 December 2014
Last updated 2 hours ago
Mar 29 2010 | 12:57pm ET
Three former employees of arch-fraudster Bernard Madoff have pleaded not guilty to charges that they participated in Madoff’s $65 billion Ponzi scheme.
Daniel Bonventre, the former operations director at Madoff’s firm, and two computer programmers, Jerome O’Hara and George Perez, are charged with falsifying records. Bonventre, who was originally charged last month but was added to the O’Hara-Perez case on Wednesday, is also charged with securities fraud, false filings with the Securities and Exchange Commission, and filing false tax returns. O’Hara and Perez are also charged with conspiracy.
O’Hara and Perez were first charged in November. All three are free on bail, and entered their pleas in Manhattan federal court on Thursday. Their next court date is scheduled for April 12.
If convicted, the former programmers face up to 30 years in prison; Bonventre faces up to 20 years.
All told, six people have been charged in the case. The other three, including Madoff himself, pleaded guilty; CFO Frank DiPascali and former Madoff auditor David Friehling are cooperating with investigators. Madoff is serving a 150-year sentence for running the Ponzi scheme, believed to be the largest in history.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.