Sign in to comment!

Menu
Home

Crime & Courts

5 ex-Madoff employees set for trial in NYC on charges they aided the Ponzi king in $20B fraud

Jury selection begins Tuesday in the New York fraud trial of five former employees of imprisoned Wall Street financier Bernard Madoff (MAY'-dawf).

Nearly five years in the making, the trial of Madoff's longtime secretary and other back-office workers is expected to unfold over five months in federal court in Manhattan. It's the first trial to result from the unprecedented fraud that was revealed to thousands of investors in December 2008 with Madoff's arrest.

Madoff is serving a 150-year prison sentence in Butner, N.C.

Prosecutors say the defendants played critical roles in helping Madoff conceal a fraud that squandered nearly $20 billion in investor money over several decades.

The defendants have pleaded not guilty. They are expected to argue through lawyers that they were victims of the fraud as well.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.94% up 3.93%  
15 Y Fixed Graph 3.03% -- 3.03%  
30 Y Fixed Jumbo Graph 4.17% up 4.13%  
5/1 ARM Graph 3.33% up 3.27%  
5/1 Jumbo ARM Graph 3.12% up 3.09%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.32% up 4.31%  
$50K HELOC Graph 4.06% -- 4.06%  
$30K Loan Graph 5.05% dw 5.08%  
$50K Loan Graph 4.48% dw 4.50%  
$75K Loan Graph 4.50% dw 4.52%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.93% dw 2.94%  
36 M Used Graph 3.48% up 3.46%  
48 M New Graph 3.22% dw 3.23%  
48 M Used Graph 3.04% -- 3.04%  
60 M New Graph 3.24% -- 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% up 0.38%  
1 yr Graph 0.72% up 0.71%  
5 yr Graph 1.50% dw 1.52%  

See the latest updates on the hottest midterm races from Fox News

Full Elections Coverage →

Keep up with all the 2014 races in

Coverage →