March 18th, 2010
03:14 AM ET

Two former Madoff computer programmers indicted

Federal prosecutors in New York indicted two former Bernard L. Madoff Investment Securities computer programmers Wednesday, alleging that the two facilitated the convicted swindler's colossal Ponzi scheme.

Jerome O'Hara, 47, and George Perez, 43, were indicted on three counts each: conspiracy, falsifying records of a broker-dealer, and falsifying records of an investment adviser.
Attorneys for both defendants said their clients intend to plead not guilty.

The two men face a maximum sentence of 30 years in prison if convicted.  The indictment,  handed down in U.S. District Court for the southern district of New York, contends that Madoff and his lieutenant, Frank DiPascali Jr., relied on computer programs "developed and maintained by the defendants … to carry out and conceal the fraudulent scheme."

The court document specifically alleges that, at Madoff's request, O'Hara
and Perez created programs meant to throw the U.S. Securities and Exchange
Commission and a European accounting firm off the scent of the fraud from 2003 to 2008.
O'Hara and Perez began working for Madoff in 1990 and 1991, respectively,  according to prosecutors.

Post by:
Filed under: Justice • U.S.
soundoff (20 Responses)
  1. jim baker

    There may have been some intervention by members of Congress or other politicians on Bernie;s behalf with the SEC. There were several reports of people in the business trying to get the SEC to investigate him and nothing was done, and no one in the SEC was punished after the fact when the scheme came undone, which could be a sign of people keeping their mouths shut and protecting each other.

    June 23, 2010 at 10:58 pm | Report abuse |
  2. Robert Montero

    So what.

    June 23, 2010 at 10:58 pm | Report abuse |
  3. Allison Hill

    being a computer programmer myself makes me very proud of my job,~"

    August 12, 2010 at 3:40 pm | Report abuse |
  4. Shower Caddy ·

    my job as a computer programmer is a very satisfying job '

    November 8, 2010 at 9:30 am | Report abuse |
  5. homepage

    Just a smiling visitant here to share the love (:, btw great design and style . "He who will not reason is a bigot he who cannot is a fool and he who dares not is a slave." by Sir William Drummond.

    January 18, 2012 at 4:26 am | Report abuse |
1 2