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24 May 2017 11:51 (South Africa)

Madoff’s little tech helpers arrested

Although Bernard Madoff was steadfast in his claims that he, and only he, knew about his monstrous Ponzi scheme, it was always difficult to believe. The FBI peeled back his claims further on Saturday after they arrested his tech-guys, Jerome O'Hara and George Perez, and accused them of programming an old IBM for Madoff, providing him with false records he needed to perpetuate his scheme. Madoff was clearly very grateful for their service and, according to the FBI, ordered his chief financial officer, Frank DiPascali, to pay them "whatever they wanted to keep them happy”.  All this information, and much more, has been provided by DiPascali, who pleaded guilty in August and is now providing valuable insight in return for few decades less jail time. Sensible move. Read more: BusinessWeek

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