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NEW YORK – Imprisoned financier Bernard Madoff's claim he carried out a nearly $20 billion fraud by himself has been firmly rejected by a New York jury that convicted five of his former top employees.
The federal court verdict Monday came in the first trial to result from the multi-decade fraud first revealed in December 2008.
A juror said evidence shown during a nearly six-month trial was overwhelming. A prosecutor said it proves Madoff was lying when he said during a 2009 guilty plea to fraud charges that he acted alone. Defense lawyers insisted their clients are victims of Madoff and promised to appeal.
Those convicted of multiple charges included Madoff's longtime secretary, his director of operations, an account manager and two computer programmers.
The 75-year-old Madoff is serving a 150-year prison sentence.