Five Madoff Aides Convicted of Helping Run Fraud Scheme
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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.
The three men and two women, hired by Madoff with little or no financial experience, were convicted yesterday on all counts. The defendants failed to convince a federal jury in Manhattan they were ignorant of Madoff’s fraud while being part of the inner circle at his New York-based firm.