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Thursday 18 November 2010

FBI Arrests 2 Longtime Employees in Madoff Fraud - ABC News

FBI Arrests 2 Longtime Employees in Madoff Fraud - ABC News: "Two members of imprisoned financier Bernard Madoff's inner circle were arrested on charges of helping to conceal the largest financial fraud in history, U.S. prosecutors said on Thursday.
The indictments of former employees Jo Ann 'Jodi' Crupi, 49, and Annette Bongiorno, 62, brings to eight the number of people criminally charged since the December 2008 revelation of Madoff's multibillion-dollar decades-long fraud.
Manhattan U.S. Attorney Preet Bharara hinted at more arrests and criminal charges in the case, which shook investor confidence in market regulators who missed Madoff's epic swindle despite repeated warnings.
'Together with our law enforcement partners at the FBI and Internal Revenue Service, we will press on with this investigation, which remains very much ongoing,' he said.
Madoff, 72, is serving a 150-year prison sentence after pleading guilty in March 2009. He insisted he acted alone.
A court-appointed trustee has sued Madoff's brother, wife, two sons and a niece over allegations they should have known about the massive Ponzi scheme"

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