Saturday, 26 July 2014
Last updated 19 hours ago
Aug 23 2013 | 5:44am ET
If some of the five former Bernard Madoff employees set to face trial on fraud charges in October were involved in a love triangle, they’d like to know about it.
In a revised indictment last week, prosecutors alleged that “one of the defendants was involved in a love triangle with Bernard Madoff himself” and that others were involved “in romantic and/or sexual relationships” with one another. This may be news to the five of them, who have now asked for more details on the allegations.
“We still have no information regarding the timing and duration of the relationships or the source of the information, and these facts are critical to the defendants’ decision whether or not to cross-examine the government’s witnesses concerning the allegations,” their lawyers wrote in a filing yesterday.
“While the government identified certain relationships, there is still another relationship not embraced by the government’s motion and about which it presumably wishes to introduce as evidence at trial.”
That trial will determine whether former Madoff operations director Daniel Bonventre, Madoff secretary Annette Bongiorno, Joann Crupi, who handled the firm’s daily cash balances, and computer programmers Jerome O’Hara and George Perez are criminally liable for assisting in Madoff’s $65 billion Ponzi scheme.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…