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Bernard Madoff “arrest net” widens with more arrests November 13, 2009

Posted by jefhenningeresq in News.
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Thought the Bernie Madoff saga was over?  Think again.  The Government will not pack up shop with Madoff’s plea and sentencing.  They will continue to arrest and prosecute just about anyone who can be connected to Madoff’s ponzi scheme. 

The latest arrests are for two former computer programmers for Bernard Madoff’s investment firm on charges they helped cover up his massive fraud for more than 15 years.  Jerome O’Hara and George Perez are charged with  conspiracy, falsifying books and records of a broker-dealer, and falsifying books and records of an investment adviser.  The Securities and Exchange Commission has alleged that they provided technical support to produce false documents and trading records.

Of course, the Government will have to prove that these men shared Madoff’s intent which may be very difficult.  However, the fact that these men are even associated with Madoff will make it very difficult for the defense.  In my opinion, this case turns on whether or not these men are just associated with Madoff or if there is some actual evidence such as cooperating witnesses, documents or emails that show the conspiracy. 

The amount they were paid may impact the case as well since if they were over paid, then the extra compensation will make it more likely that they were in on it.  If their salary was normal, then it will be less likely that they risked criminal prosecution with no “skin in the game”. 

Story is here.

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1. Bear Stearns Madoff – YouTube – The Madoff Money Trail – Bloomberg - January 20, 2010

[…] Bernard Madoff “arrest net” widens with more arrests « White … […]


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