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Correction: BC-US--Madoff Fraud-Trial story

NEW YORK, N.Y. - NEW YORK (AP) — In a story March 24 about the convictions of five former employees for imprisoned financier Bernard Madoff, The Associated Press misspelled the last name of the attorney for defendant Annette Bongiorno. He is Roland Riopelle, not Ripoelle. A corrected version of the story is below: 5 Madoff ex-workers convicted in case's 1st trial 5 ex-employees convicted in first criminal trial to spring from Bernie Madoff's huge fraud By LARRY NEUMEISTER Associated Press

5 ex-employees convicted in first criminal trial to spring from Bernie Madoff's huge fraud

NEW YORK, N.Y. - Five 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.

Jury finds Madoff employees guilty on all counts

A US jury Monday found five employees of swindler Bernard Madoff guilty of fraud, falsifying records and other offenses that enabled the multi-billion dollar Ponzi scheme. The five, who worked for years in account supervision, computer systems and other operations at Bernard L. Madoff Investment Securities, were convicted on 31 counts. The defendants are Jerome O'Hara, George Perez, Daniel Bonventre, Annette Bongiorno and Joann Crupi. Charges included conspiracy to commit securities fraud, falsifying records of a broker-dealer and conspiracy to defraud the US.

Ex-law partner of convicted Fla. Ponzi schemer charged with campaign contribution violations

MIAMI - A former law partner of convicted Ponzi schemer Scott Rothstein has been charged with conspiring to violate federal campaign contribution laws. Court records show charges were filed Friday against Russell Adler, who was a principal in the now-defunct Fort Lauderdale law firm Rothstein Rosenfeldt Adler. The firm was liquidated after Rothstein's $1.2 billion Ponzi scheme was exposed in fall 2009.

Ex-law partner of convicted Fla. Ponzi schemer charged with campaign contribution violations

MIAMI - A former law partner of convicted Ponzi schemer Scott Rothstein has been charged with conspiring to violate federal campaign contribution laws. Court records show charges were filed Friday against Russell Adler, who was a principal in the now-defunct Fort Lauderdale law firm Rothstein Rosenfeldt Adler. The firm was liquidated after Rothstein's $1.2 billion Ponzi scheme was exposed in fall 2009.

Ex-Madoff aide pleads ignorance, naivete at U.S. fraud trial

By Joseph Ax NEW YORK (Reuters) - Ponzi scheme. Treasury bond. The Standard & Poor's 500 index. The collapse of Lehman Brothers. Those were among the subjects that Annette Bongiorno said on Thursday she did not understand, despite spending more than 40 years as one of the key employees at Bernard Madoff's investment firm.

Ex-Madoff aide pleads ignorance, naivete at U.S. fraud trial

By Joseph Ax NEW YORK (Reuters) - Ponzi scheme. Treasury bond. The Standard & Poor's 500 index. The collapse of Lehman Brothers. Those were among the subjects that Annette Bongiorno said on Thursday she did not understand, despite spending more than 40 years as one of the key employees at Bernard Madoff's investment firm.

U.S. justices say Allen Stanford victims can sue lawyers, brokers

By Lawrence Hurley WASHINGTON (Reuters) - Investors in Allen Stanford's $7 billion Ponzi scheme can sue to recoup losses from lawyers, insurance brokers and others who worked with the convicted swindler, the U.S. Supreme Court ruled on Wednesday. On a 7-2 vote, the court held that lawsuits filed in state courts can go forward. Stanford's fraud involved the sale of bogus certificates of deposit by his Antigua-based Stanford International Bank. He is serving a 110-year prison sentence.

Supreme Court allows investor lawsuits over Stanford Ponzi scheme to go forward

WASHINGTON - The Supreme Court ruled Wednesday that victims of former Texas tycoon R. Allen Stanford's massive Ponzi scheme can go forward with class-action lawsuits against the law firms, accountants and investment companies that allegedly aided the $7.2 billion fraud. The decision is a loss for firms that claimed federal securities law insulated them from state class-action lawsuits and sought to have the cases thrown out. But it offers another avenue for more than 21,000 of Stanford's bilked investors to try to recover their lost savings.

US top court says Stanford scam victims can sue lawyers, insurers

The US Supreme Court ruled Wednesday that class action suits can be filed against third parties linked to Allen Stanford's vast financial swindle, a decision that could have a major impact on victim compensation. In a seven to two decision, the high court ruled in favor of victims in Louisiana and Texas, who want to sue the legal firms, insurance companies and financial companies that they say enabled Stanford's Ponzi.
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