Gene Expression

The Devil’s Helpers

Two Are Charged With Helping Madoff Falsify Records:

Two computer programmers who worked for Bernard L. Madoff’s brokerage firm were arrested on Friday on criminal charges of helping perpetuate his long-running Ponzi scheme.

The two men — Jerome O’Hara of Malvern, N.Y., and George Perez of East Brunswick, N.J. — were also sued by securities regulators, who said they had helped keep the Madoff fraud running for more than 15 years and took “hush money” to keep it secret.

The criminal and civil complaints accuse the men of creating and maintaining the software that enabled Mr. Madoff to generate a completely fictitious paper trail to conceal his fraud from investors and regulators.

Hopefully the first of many prosecutions.

Comments

  1. #1 bioIgnoramus
    November 13, 2009

    There surely ought to be plenty of programmers for Godman Sachs (and the like) who are quivering in their boots.