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Tags: US | Madoff | Scandal

Millions of Documents Slow Madoff Employee Case

Monday, 16 August 2010 01:55 PM EDT

Lawyers for three alleged cohorts of disgraced financier Bernard Madoff say their case is mired in a mountain of potential evidence.

The paper trail consists of millions of documents seized from Madoff's records following the collapse in 2008 of his epic fraud.

A pretrial hearing was held Monday in federal court in Manhattan for Daniel Bonventre, Jerome O'Hara and George Perez. A defense attorney called the evidence "a massive, amorphous blob."

Prosecutors told a judge they had created a database so the paperwork can be searched. They offered to give the defense a tutorial.

Madoff is serving a 150-year prison sentence after admitting that he operated a Ponzi scheme for at least two decades. He admitted cheating thousands of individuals, charities, celebrities and institutional investors out of billions.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


InvestingAnalysis
Lawyers for three alleged cohorts of disgraced financier Bernard Madoff say their case is mired in a mountain of potential evidence.The paper trail consists of millions of documents seized from Madoff's records following the collapse in 2008 of his epic fraud.A pretrial...
US,Madoff,Scandal
128
2010-55-16
Monday, 16 August 2010 01:55 PM
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