Bernard Madoff’s computer programmers were tricked into aiding his $17.5 billion Ponzi scheme and prosecutors failed to prove otherwise during a five- month trial, a defense lawyer said in closing arguments.
The woman who ran Bernard Madoff’s investment advisory business admitted she didn’t tell federal investigators in 2009 that her duties included backdating trades and turning stocks into bonds with a few pen-strokes.
Bernard Madoff’s former director of operations told a jury he wasn’t responsible for the investment advisory unit at the center of the con man’s $17 billion fraud, even though he balanced its checkbook and paid its salaries and expenses.
Bernard Madoff planned every detail of his firm’s demise in the days before he was arrested five years ago today to avoid being marched past his 200 employees in handcuffs, the con man’s former finance chief told a jury.
Five former aides to Bernard Madoff are seen as facing tough odds in trying to convince a New York jury they were innocent bystanders to the con man’s $17 billion fraud, given what one lawyer called the “avalanche” of evidence produced by prosecutors.
Members of Bernard Madoff’s inner circle who are on trial for allegedly aiding his $17 billion fraud are focusing the jury on former colleagues who helped perpetuate the scheme for years and weren’t charged.
Bernard Madoff’s former finance chief contradicted himself in testimony about when he learned of his boss’s use of fake trades, casting possible doubt on the government’s key witness in the trial of five ex-Madoff workers.
Bernard Madoff’s finance chief, who pleaded guilty to aiding his $17 billion fraud, said he could tell right away that fake trades were being used in customer accounts in 1975 when he joined the firm after high school.
Bernard Madoff’s ex-finance chief lied every day for 30 years and didn’t tell the truth even when pleading guilty to aiding the con man’s fraud, a defense lawyer said in the trial of five of the witness’s former colleagues.
Bernard Madoff’s deputies made fake paperwork showing trading losses to save $1.7 million owed to an investor who died with “too much money” in his account even as the firm was being flooded with new customers and cash in the 1990s, the con man’s former finance chief told a jury.