Here's what became of Bernie Madoff's inner circle.
, at 48, after a long battle with mantle cell lymphoma, a rare cancer that typically strikes men over 60.. In 2017, Picard and the Justice Department reached a $23 million settlement with the sons' estates, with the money to go to victims.As director of compliance for his older brother's investment advisory business, Peter Madoff was in a position to know plenty of secrets. But he insisted that his brother's fraud was not one of them.
For two weeks in late 2013, the Brooklyn-born college dropout mesmerized a federal jury in the trial of five ex-Madoff employees with stories about how they conspired for years to thwart federal investigators. That includes the time they produced a stack of false records for SEC examiners on site, but not before putting the papers in a refrigerator to hide the fact that they had just come out of the printer.
Daniel Bonventre was director of operations. Annette Bongiorno — one of Madoff's longest serving employees — joined the firm out of high school. She worked as Madoff's personal secretary for a time, eventually becoming a portfolio manager. Joann Crupi was an investment advisor, and George Perez and Jerome O'Hara developed the computer programs Madoff used to falsify trades.
Federal prosecutors said Chase should have known it was being used to commit fraud, and in 2014 they charged the bank with two felony counts for failing to maintain adequate controls. But in a deferred prosecution agreement, the feds said they would drop the charges if, within two years, the bank adopted a proper compliance system and paid $2.6 billion in fines and penalties.
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