Friday, November 13, 2009

More Madoff Accomplices Arrested

Today's WSJ reports:
Two former computer programmers for convicted Ponzi scheme operator Bernard Madoff were arrested and charged Friday with creating computer programs that helped Mr. Madoff hide a massive fraud from regulators for more than 15 years.

Jerome O'Hara and George Perez, who began working as computer programmers at Bernard L. Madoff Investment Securities LLC in the early 1990s, were charged with conspiracy, falsifying books and records of a broker-dealer and falsifying the books and records of an investment advisory.

The article reported that there is evidence that the two computer programmers knew what they were doing was fraudulent and received compensation to keep quiet.

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