Madoff Employees Face Sentencing Today

It is generally said that engaging in a large scale financial fraud typically takes more than one insider to pull off the scheme. In the case of the Bernie Madoff Ponzi scheme, the largest of its kind, the fraud was perpetrated around one of the most popular and talked about hedge fund investments at the time. Moving customer money out of the bank accounts and not having actual trades requires cooperation of several employees and outside vendors, say several people close to the case. Madoff’s former operations chief faces 20 years in prison But it is five former employees who…