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.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Today's political cartoons - January 12, 2025Cartoons Sunday's cartoons - snowed in, dangerous conditions, and more
-
5 fact-checked cartoons about Meta firing its fact checkersCartoons Artists take on playing chicken, information superhighway, and more
-
NCHIs: the controversy over non-crime hate incidentsThe Explainer Is the policing of non-crime hate incidents an Orwellian outrage or an essential tool of modern law enforcement?
-
ABC News to pay $15M in Trump defamation suitSpeed Read The lawsuit stemmed from George Stephanopoulos' on-air assertion that Trump was found liable for raping writer E. Jean Carroll
-
Judge blocks Louisiana 10 Commandments lawSpeed Read U.S. District Judge John deGravelles ruled that a law ordering schools to display the Ten Commandments in classrooms was unconstitutional
-
Swearing in the UK: a colourful historyIn The Spotlight Thanet council's bad language ban is the latest chapter in a saga of obscenity
-
ATF finalizes rule to close 'gun show loophole'Speed Read Biden moves to expand background checks for gun buyers
-
Hong Kong passes tough new security lawSpeed Read It will allow the government to further suppress all forms of dissent
-
France enshrines abortion rights in constitutionspeed read It became the first country to make abortion a constitutional right
-
Texas executes man despite contested evidenceSpeed Read Texas rejected calls for a rehearing of Ivan Cantu's case amid recanted testimony and allegations of suppressed exculpatory evidence
-
Supreme Court wary of state social media regulationsSpeed Read A majority of justices appeared skeptical that Texas and Florida were lawfully protecting the free speech rights of users
