Friday, November 13, 2009

Employed Programmers Can Be Crooks, Too

"Two computer programmers who worked for Bernard L. Madoff’s investment firm were accused Friday of helping to cover up the giant Ponzi scheme for more than 15 years.

"In a statement, the United States attorney’s office in Manhattan said the two programmers — Jerome O’Hara, 46, of Malverne, N.Y., and George Perez, 43, of East Brunswick, N.J. — were arrested Friday at their homes.

"The complaint accuses the two men of providing the technical support needed to produce false documents and trading records in defrauding investors in Bernard L. Madoff Investment Securities of billions of dollars.

"Jerome O’Hara and George Perez allegedly helped construct Bernie Madoff’s house of cards. The computer codes and random algorithms they allegedly designed served to deceive investors and regulators and concealed Madoff’s crimes,` Preet Bharara, the United States attorney for the Southern District of New York, said in a statement.

"In addition, Joseph M. Demarest Jr., the assistant director in charge of the F.B.I.’s New York office, said that when the two men told Mr. Madoff `they would no longer lie for him,` they were paid to keep the scheme quiet."

From The New York Times...

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