3 plead not guilty in Madoff scam

By ASSOCIATED PRESS
March 25, 2010 19:25

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

NEW YORK — A former executive with disgraced financier Bernard Madoff's investment firm and two other ex-employees pleaded not guilty on Thursday to charges that they were in on his massive Ponzi scheme.

Former operations chief Daniel Bonventre was arrested last month on securities and tax fraud charges accusing him of concealing Madoff's multibillion-dollar swindle.

An indictment unsealed on Wednesday added a new charge against Bonventre — who ran the back office of Madoff's firm for 30 years — of falsifying the records of an investment adviser. Bonventre was named in the indictment, along with the programmers, who had been previously charged with helping Madoff churn out fictitious account statements for thousands of investors.

The three, who are free on bail, pleaded not guilty in federal court in Manhattan. They were ordered to return to court on April 12.

Prosecutors and the Securities and Exchange Commission have alleged Bonventre knew that the billions of dollars Madoff was collecting from investors were not being used to buy securities, and that he doctored the books to hide the scheme.

Related Content

Breaking news
July 20, 2018
Merkel welcomes Trump's invitation to Putin to meet in U.S.

By REUTERS