Closings start in NY trial of Madoff ex-employees

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

NEW YORK (AP) — A prosecutor has started closing arguments in the New York trial of five ex-employees of Bernard Madoff by telling jurors that each of the defendants played a "crucial role" in the mammoth fraud.

Prosecutor John Zach said Tuesday that Madoff depended on his former secretary, his former head of operations, an account manager and two computer programmers to keep his fraud alive for four decades. It collapsed in December 2008 when he ran out of money and confessed to FBI agents that his business was a sham. He pleaded guilty and is serving a 150-year sentence at a federal prison.

The closing arguments come as a nearly six-month trial winds down in Manhattan. All of the defendants have pleaded not guilty and two of them testified.

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 This material may not be published, broadcast, rewritten or redistributed.

Most recent Business & Tech stories

Related topics

Business & Tech
The Associated Press


    Catch up on the top news and features from, sent weekly.
    By subscribing, you acknowledge and agree to's Terms of Use and Privacy Policy.

    KSL Weather Forecast