Bernie Madoff software programmers indicted

Bernie's not the only one heading to the big house it would appear. Two Madoff Investment (BLMIS) employees are facing 30 years in jail time for designing special software programs that contained fraudulent financial records and data.

The FBI announced that two software programmers have been indicted by a Manhattan grand jury.

Bernie's not the only one heading to the big house it would appear. Two Madoff Investment (BLMIS) employees are facing up to 30 years in jail for designing special software programs that contained fraudulent financial records and data.

PREET BHARARA, the United States Attorney for the Southern District of New York, announced that JEROME O'HARA and GEORGE PEREZ - former computer programmers for Bernard L. Madoff Investment Securities, LLC ("BLMIS") - were indicted today by a federal grand jury in Manhattan on charges of conspiracy, falsifying records of a broker-dealer, and falsifying records of an investment adviser.

Beginning in 1990 and 1991, respectively, O'HARA and PEREZ were employed as computer programmers at BLMIS. They primarily were responsible for developing and maintaining computer programs that supported the operation of the BLMIS investment advisory business (the "IA business"). Many of those programs were run on an IBM server known within BLMIS as "House 17."

Madoff was convicted in March of 2009 after reaching an agreement, pleading guilty to 11 federal offenses including wire fraud, perjury and securities laws in a Ponzi scheme that defrauded investors of $65 billion.

The delete key wasn't nearby.

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