MANHATTAN - The SEC on Thursdayt charged two longtime Bernard Madoff employees with playing key roles in Madoff's $60 billion Ponzi scheme.
It claims Annette Bongiorno created false books and records "and feathered her own accounts for personal gain," and says JoAnn Crupi helped mislead auditors and regulators - and helped pick who would be paid as the fraud collapsed.
"When the fraud was on the verge of collapse, Crupi helped decide which accounts should be cashed out and prepared checks for those selected investors, many of them who were friends or family of Madoff," the SEC said in a statement announcing the complaint.
"Bongiorno and Crupi helped create an elaborate edifice of fake accounts, fake trades, and fake profits," the director of the SEC's New York Regional Office said in the statement. "Without their active and ongoing assistance, Madoff's world of lies would have been unsustainable."
Read the Top 8
Sign up for the Top 8, a roundup of the day's top stories delivered directly to your inbox Monday through Friday.
Additional Reads
-
-
Do you know what’s really in your ESG fund? January 17, 2023
-
Officers plead not guilty in police van paralysis case January 11, 2023 -
Jury No. 2 takes over wall-building fraud case October 27, 2022