Saturday, November 14, 2009

Two More Bernie Madoff Associates Arrested And Charged With Fraud

Bernie Madoff is in jail for 150 years for pulling off one of the most massive Ponzi schemes in history. One thing is certain: Bernie Madoff could not have acted alone to perpetrate his fraud. In recent weeks and months many of the people around Bernie Madoff have begun to fall.

In the latest episode, two of Bernie Madoff’s computer programmers were arrested on Friday in New York on charges of falsifying books and records and helping Madoff to pull off his fraudulent scheme. Jerome O’Hara, 46, and George Perez, 43, were charged with criminal conspiracy and accused of producing false documents and trading records for Bernard L. Madoff Investment Securities LLC. “O’Hara and Perez were accused of knowing that the special computer programs they developed contained fraudulent information used in U.S. and European regulatory reviews.”

The Securities and Exchange Commission also filed civil charges against O’Hara and Perez. The arrest of O’Hara and Perez brings to five (5) the number of people criminally charged in the Madoff Scandal. Hopefully, more arrests should be forthcoming.

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