Two of Bernard Madoff’s former computer programmers were arrested Friday for allegedly falsifying books and knowingly contributing to the decades-long, $65 billion Ponzi scheme.
US Attorney, Preet Bharara contends that Perez and O’Hara, who have worked for Bernard L Madoff Investment Securities since the early 1990s, knowingly developed computer programs designed to hold false information on trading details, client names and accounts. These programs were fundamental to the sustained deception of the Securities and Exchange Commission over five reviews of his Manhattan firm.
There is supposedly evidence that in late 2006, Perez and O’Hara informed Madoff that they were done contributing to the scheme, only to be persuaded otherwise with a 25 percent salary raise and $60,000 bonuses.
The charges against them bring the number of arrests for association with the investment fraud to five.If convicted, the two men face up to 30 years in prison for their role in the world’s largest and most infamous Ponzi scheme.
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