Ney York, NY – Two former computer programmers for convicted money manager Bernard Madoff were indicted by a federal grand jury in Manhattan.
Jerome O’Hara, 47, and George Perez, 44, previously had been charged in the case. They are accused of developing and maintaining the computer programs used in Madoff’s fraudulent investment-advisory business. Madoff is serving a 150-year prison sentence for conducting the biggest Ponzi scheme.
“O’Hara and Perez are alleged to have known that the special programs they developed contained fraudulent information and that they were used in connection with the SEC and European accounting firm reviews” of Madoff’s business, according to a statement by U.S. Attorney Preet Bharara’s office announcing yesterday’s indictments.
O’Hara, of Malverne, New York, and Perez, of East Brunswick, New Jersey, were charged in a criminal complaint in November. They each face a maximum sentence of 30 years in prison. They’re charged with conspiracy and falsifying records of a broker-dealer and of an investment adviser.
(Source: http://www.businessweek.com/)
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3 Responses
As a computer programmer, this is a chilling development. They wrote the programs, this does not mean they had any idea of how they would be used.
I shudder to think that is someone managed to get into my computer system and used one of my programs to steal money that I could be criminally responsible.
This is ridiculous overkill. And what about the taxi driver who drove Madoff to meet people who were ponziing?
#2, the taxi driver did not know that he was driving Madoff to meet people who were ponziing. Otherwise he would’ve reported it to the police!