Madoff Lieutenants Set For Trial Next October

Oct 4 2012 | 11:27am ET

Five former employees of arch-fraudster Bernard Madoff will have their day in court next year.

The Ponzi schemer's lieutenants pleaded not guilty to a new 33-count indictment on Tuesday. The five will go on trial together next Oct. 7.

Lawyers for Daniel Bonventre, Annette Bongiorno, Joann Crupi, Jerome O'Hara and George Perez asked for more time to prepare, noting that the new charges make it "to a great degree… a new case," as Crupi's lawyer put it. The legal teams have 90 days to resubmit their motions to dismiss; if those bids fail, the trial could take up to three-and-a-half months, U.S. District Judge Laura Taylor Swain said.

The new charges follow several recent guilty pleas in the Madoff case, including that of Madoff's brother, Peter, his chief compliance officer. All told, eight people have pleaded guilty in the $65 billion Ponzi scheme, including Madoff, who is serving 150 years in prison.

Bonventre was operations director at Bernard L. Madoff Investment Securities, Bongiorno was Madoff's secretary and Crupi handled the firm's daily cash balances. O'Hara and Perez were computer programmers at the firm.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...