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NY fraud jury convicts Madoff team

A New York jury has firmly rejected imprisoned financier Bernard Madoff's claim that he carried out a nearly 20 billion-dollar (£12bn) fraud by himself - convicting five of his former top employees.

The federal court verdict 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 and a prosecutor said it proved Madoff was lying when he said during a 2009 guilty plea to fraud charges that he acted alone.

Defence lawyers insisted their clients were victims of Madoff and promised to appeal.

Those convicted of multiple charges included Madoff's long-time secretary, his director of operations, an account manager and two computer programmers.

Madoff, 75, is serving a 150-year prison sentence.


From Belfast Telegraph