Madoff dominoes still falling

February 25, 2010 | By Jim Kim

Down goes another Bernard Madoff crony. Daniel Bonventre, director of operations for the Madoff firm from at least 1978 until its collapse in December 2008, has been charged with "concealing the scope of the investment arm's operations (disclosure news) and understating the firm's liabilities by billions of dollars," according to Reuters.

Bonventre apparently had broad responsibility for the general ledger, financial statements (financial statements news), accounting records (accounting news) and supervising back office staff. The criminal complaint with which Bonventre is charged describes how he worked with Bernard Madoff, DiPascali, two computer programmers--all of whom have been charged--and others to keep the Ponzi scheme going. What's not explicit here is whether Boventre is cooperating or not. It seems the answer is "no." DiPascali has emerged as the government's (SEC news) go-to guy, and it's likely he offered up a lot of information about other employees.

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