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.
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 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.
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.
After several drinks at a Greek restaurant on Manhattan’s Third Avenue in the summer of 2006, two computer programmers at Bernard Madoff’s investment firm asked their supervisor whether the boss’s business was a scam.
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.