Crime and punishment
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Half a decade after their erstwhile boss pleaded guilty to running a Ponzi scheme, five of Bernard Madoff's former aides were convicted on Monday of helping him cover it up. After a five-month trial, portfolio managers Annette Bongiorno and Joann Crupi, computer programmers Jerome O'Hara and George Perez, and back-office director Daniel Bonventre were all found guilty of securities fraud and conspiracy to defraud clients. "The scheme these defendants helped perpetrate cost innumerable investors their life savings," U.S. Attorney Preet Bharara said in a statement. "Now it likely will cost the defendants their freedom." Sentencing will take place in July.