Five former former employees of imprisoned financier Bernard Madoff were convicted Monday at the end of a six-month trial that portrayed them as telling an elaborate web of lies to hide a fraud that enriched them and cheated investors out of billions of dollars.
The trial—one of the longest in the storied history of Manhattan federal court—was the first to result from the massive fraud revealed in December 2008 when Madoff ran out of money and was arrested. He pleaded guilty and is serving a 150-year prison sentence.
