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Ponzi Scheme

FBI Arrests Two Bernie Madoff Aides in Connection to Ponzi Scheme

Two more suspects have been arrested in connection with the Bernie Madoff’s Ponzi scheme. Charges are expected to be unsealed Thursday afternoon against Joanne Crupi, who was arrested by the FBI Thursday morning at her home in New Jersey, and Annette Bongiorno, who was arrested at her home in Florida. They’ll join a former executive and two computer programmers also accused of helping Madoff carry out his massive two-decade Ponzi scheme. The three ongoing cases have been swamped by the amount of evidence lawyers must wade through. One attorney, Gordon Mehler, called the evidence a "massive, amorphous blob that's almost impossible to get a handle on." Madoff is currently serving a 150-year prison sentence.

November 18, 2010 3:35 AM