Bernie Madoff

Cheer up! It could have been worse.To mark the sixth anniversary of Bernie Madoff’s perp walk, five of his closest aides got the worst Christmas presents of their lives: between two-and-a-half and 10 years in prison for dummying up statements, looking the other way, and playing catch with a bunch of files that the SEC wanted to have a look at.

The scoreboard shows Madoff ops. chief Daniel Bonventre going up the river for a decade for his stellar 40-year career, vertically-challenged former secretary Annette Bongiorno for six and computer programmers and diamond collectors George Perez and Jerome O’Hara for two-and-a-half each. So the last of the five, portfolio manager Joann Crupi, probably had a pretty good idea of what was coming to her yesterday, and what came was six years in the pokey. Read more »

Jailed-for-life Ponzi villain Bernie Madoff is offering to put in a good word for five former underlings before they are sentenced for aiding his epic $17 billion scheme — and amazingly one of them wants the help. A series of emails Madoff sent lawyers for the five ex-Madoff staffers convicted in March were included in new Manhattan federal court filings Wednesday. In one of them, a Sept. 29 email, addressed, “Gentlemen,” Madoff says, “I am still available to help if you desire. I assure you that my info on each of your clients is of great value and discredits the testimony provided by Frank D,” referring to his former lieutenant Frank DiPascali, the government’s star witness and a convicted fraudster.” Larry Krantz, who represents former Madoff computer programmer George Perez, was the only lawyer to take him up on the dubious offer. [NYP]

Paul Konigsberg will not have his good name dragged through the mud! Read more »

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 financial experience, were convicted on all counts. The defendants failed to persuade a federal jury in Manhattan they were ignorant of the fraud despite being part of the inner circle at his New York-based firm…The defendants are Annette Bongiorno, who ran the investment advisory unit at the center of the fraud; Joann Crupi, who managed large accounts; Daniel Bonventre, the ex-operations chief of Madoff’s broker-dealer; and computer programmers George Perez and Jerome O’Hara, accused of automating the scam as it grew rapidly in the 1990s. [Bloomberg]

The jurors considering the fate of Bernie Madoff’s co-Ponzi schemers/unwitting patsies are breaking their own record every day they fail to reach a verdict. Read more »

Annette Bongiorno never wanted anything more than to be Bernie Madoff’s secretary. She didn’t know what a Ponzi scheme was until the day her hero went down, and is still unclear on what exactly the S&P500 or a T-bill are. And it’s not like she backdated the (fake) Lehman stock in her $50 million account to before the bank’s demise because she needed the money—and anyway, Bernie never told her that backdating of trades that hadn’t actually happened was wrong, so how was she to know? Read more »

Irving Picard extracted $325 million from JPMorgan Chase at its most vulnerable, but has no intention of sharing any of it with the people who actually made money from Bernie Madoff’s little charade. And, “winners” that they are, those investors won’t be taking “diddly squat” for an answer, at least not from their buddy Irv. Read more »

In retrospect, JPM could’ve maybe solved that puzzle using the clues Madoff provided. Maybe. Read more »