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Five Former Madoff Employees Convicted of Conspiracy to Defraud Clients

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TWC News: Five Former Madoff Employees Convicted of Conspiracy to Defraud Clients
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Five former employees of Bernard Madoff were convicted in the first criminal trial to spring from his massive Ponzi scheme.

Madoff's Director of Operations for investments and his longtime secretary were among the five convicted of conspiracy to defraud clients, securities fraud and falsifying business records.

The U.S. Attorney's Office says the result of the trail proves that what could be the largest Ponzi scheme in history was not the work of one person.

The 75-year-old Madoff, who pleaded guilty in 2009 claimed early on during his trial that he acted alone.

He's now serving a 150-year prison sentence.

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