Firm computer programmers said sought payment in diamonds

Diamonds

But accepted a big salary rise instead.

Bernard Madoff’s former computer programmers asked for payment in diamonds to continue aiding the con man’s $17bn Ponzi scheme in 2006 after they became uncomfortable with their role, a jury was told.

Bloomberg's Erik Larson reports that the 'crazy' request from Jerome O’Hara and George Perez was turned down and the men were given salary increases and bonuses, Frank DiPascali, Madoff’s former finance chief, testified Tuesday in Manhattan federal court in the trial of the men and three other ex-colleagues.

'Where the hell am I gonna get a bag of diamonds ?' said DiPascali, who pleaded guilty in the case and is testifying in a bid for a lighter sentence. The programmers, who said they were 'in a bit of a pickle', agreed on a 'fairly substantial percentage increase' to their salaries, he said.

O’Hara and Perez, who have both pleaded not guilty, are accused of writing computer programs to trick regulators and customers by printing out millions of fake account statements and trade confirmations. No trading took place.

To access the complete Bloomberg article hit the link below:

Ex-Madoff Programmers Sought Pay in Diamonds, Jury Told

Madoff Planned Everything, Cried Before Arrest, Jury Told

Madoff Cut Dead Client’s Payout With Fake Loss, Jury Told

 

image: © Kim Alaniz

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