On Wednesday, Jerome O’Hara and George Perez, two former computer programmers at Bernard Madoff’s firm, were indicted by a federal grand jury. The two men are accused of developing and maintaining the computer programs used in Madoff’s fraudulent investment advisory business, Bloomberg reports.
Preet Bharara, U.S. Attorney for the SDNY, issued a statement that “O’Hara and Perez are alleged to have known that the special programs they developed contained fraudulent information and that they were used in connection with the S.E.C. and European accounting firm reviews” of Madoff’s business. They face up to 30 years in prison each.
