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.
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 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.
Five former aides to Bernard Madoff who spent decades working for his firm were found guilty of helping run the biggest Ponzi scheme in U.S. history, a $17.5 billion fraud exposed by the 2008 financial crisis.
Bernard Madoff demanded his inner circle rush to recreate years’ worth of fake account documents for a feeder fund that in 1992 attracted unwanted attention from regulators, the con man’s ex-finance chief told a jury.
Bernard Madoff’s former finance chief, Frank DiPascali, who pleaded guilty to aiding the con man’s $17 billion Ponzi scheme, fed prosecutors “a line of garbage” to build their criminal case against five of his ex- colleagues, a defense lawyer told a jury.
Bernard Madoff’s former computer programmers asked for payment in diamonds to continue aiding the con man’s $17 billion Ponzi scheme in 2006 after they became uncomfortable with their role, a jury was told.