Madoff’s IT Guys Arrested, DiPascali Released From Jail


Jerome O’Hara, 46 and George Perez, 43 two IT programmers who worked for Bernie Madoff have been arrested the New York Times reported. They are accused of maintaining and creating the programs that helped Bernie Madoff to keep its fraudulent “books”. They have also been named in civil cases.

The two men worked together and shared office space in Madoff’s headquarters in New York are accused of generating phony reports over a period of approximately 15 years. The chief of Securities and Exchange Commission says that without the pair Madoff’s fraud would not have been possible. The pair face 30 years in prison if found guilty.

O’hara is said to have started working at Bernard L. Madoff Investment Securities in 1990 and Perez began working there the following year in 1991. They had actually created nine computer programs to create these false “books” over the years. Even though the firm was audited by the Securitites and Exchange Commission of five different occasions between 2004 and 2009 the FBI says these special programs generated false reports that allowed Madoff to get away with what he did.

Meanwhile, Frank DiPascali Jr.,Bernard Madoff right-hand man, has been transferred to the Westchester County Jail, but remains in federal custody.

DiPascali was released on Nov. 12, three months and a day after having first been imprisoned, CNN reports.

Madoff is serving a 150-year sentence after pleading guilty to the scam.

Madoff's IT Guys Arrested, DiPascali Released From Jail

Madoff's IT Guys Arrested, DiPascali Released From Jail

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