Two Programmers Arrested For Roles In Bernard Madoff Ponzi Scheme

Illustration for article titled Two Programmers Arrested For Roles In Bernard Madoff Ponzi Scheme

Jerome O'Hara and George Perez were more than happy to generate false records concealing Bernard Madoff's ridiculous Ponzi scheme until the crap hit the fan. They took hush money at that point, but I doubt that'll comfort them in prison.

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The pair supposedly had an eventual "crisis of conscience" and told Madoff that they would no longer lie for him. Of course, somehow their personal Jiminy Cricket crisis urged them to delete nearly all the programs designed to falsify records and take some cold hard cash for silence, too. Wonder what Jiminiy will say about the 30 years of prison time they now face. [NJ]

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DISCUSSION

beyondthetech
BeyondtheTech

I found their source code. Apparently, when the victims were doing transactions, it sometimes leaves fractions of pennies. Adding up all these fractions of pennies over several hundred thousand transactions per day could come out to a staggering number.

However, they were simply stealing everything left of the decimal point. #bernardmadoffponzischeme