Bombshell: Isn’t This What We’ve All Suspected? Bernie Madoff’s CFO Testifies That Madoff’s $65 Billion Ponzi Scheme, Which Lasted Years, Was an Open Secret at the Company. It’s Our Non-TV Story of the Day

Dec 3, 2013  •  Post A Comment

"Bernie Madoff’s longtime right-hand took the stand at the Manhattan federal trial of five former employees of the crooked investment firm Monday, giving the first insider’s perspective into the epic $65 billion fraud," reports the New York Post.

The story continues: "Former Madoff CFO Frank DiPascali, an admitted fraudster turned star government witness, wasted no time throwing his former co-workers under the bus, telling jurors they allegedly knew their con-man boss was committing fraud — while they all profited handsomely from it."

The article then reprints this exchange form the trial:

"Can you tell us how long fake trading was going on at Madoff Securities?” Assistant US Attorney John Zach asked.

“As long as I could remember,” DiPascali replied.

“It was virtually impossible not to know what was happening,” added DiPascali, who pleaded guilty to fraud in 2009.

The story adds: "In opening statements defense lawyers painted him as a compulsive liar who would do or say anything to shorten the 125-year sentence he faces."

The article reports that DiPascali testified that defendant Annette Bongiorno, Madoff’s longtime secretary, "was at the heart of a scheme to create phony backdated trades.

"He also talked vividly about how three other co-defendants — former account manager Joann Crupi and computer programmers Jerome O’Hara and George Perez — once helped him fool a dogged auditor from accounting giant KPMG."

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