Five former Madoff employees found guilty of fraud

The employees faced 31 different charges, ranging from securities fraud to conspiring to defraud investors

Five former employees of Bernie Madoff contended that their boss conducted fraud without their knowledge, but on March 24, a jury handed down its verdict that they were complicit in his actions.

The five employees were found guilty of fraud, helping Madoff’s scam that cost investors $17 billion afloat through a web of lies and fake documents. While Madoff had previously claimed that the fraud was a one-man job, this trial has helped expose the extent to which fraud was deeply rooted within his company.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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