Feeds

Feds pinch two Madoff geeks

Due in court today

Secure remote control for conventional and virtual desktops

The FBI has arrested two programmers in connection with falsifying records at Bernie Madoff's investment firm.

The pair, Jerome O'Hara and George Perez, had worked for the firm since the early 90s. They were arrested at their homes this morning and will be charged with conspiracy, falsifying books and records of a broker-dealer, and falsifying books and records of an investment adviser.

Preet Bharara, US attorney for the Southern District of New York, said: "Jerome O'Hara and George Perez allegedly helped construct Bernie Madoff's house of cards.

"The computer codes and random algorithms they allegedly designed served to deceive investors and regulators and concealed Madoff's crimes. Today they have been charged for their roles in Madoff's epic fraud, and the investigation remains ongoing."

O'Hara and Perez face possible sentences of up to 30 years.

They're accused of producing fraudulent monthly reports and client statements, as well as allowing other employees to alter computer programs in order to create false records and books.

The Feds allege that the scam came to a head in fall 2006 when they told Madoff they could no longer lie for him. He gave them 25 per cent pay rises and bonuses of $60,000.

Bernie Madoff was sentenced to 150 years for his role in masterminding the fraud. US authorities are auctioning much of the Madoffs' jewellery and watches - more here.

The full FBI statement is here. ®

Beginner's guide to SSL certificates

More from The Register

next story
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
prev story

Whitepapers

Free virtual appliance for wire data analytics
The ExtraHop Discovery Edition is a free virtual appliance will help you to discover the performance of your applications across the network, web, VDI, database, and storage tiers.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
The total economic impact of Druva inSync
Examining the ROI enterprises may realize by implementing inSync, as they look to improve backup and recovery of endpoint data in a cost-effective manner.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.