Programmers charged in Madoff case

Bernie Madoff is alleged to have been behind the $50bn Ponzi scam

Two computer programmers have been charged by the US government for their roles in the infamous Bernie Madoff case.

According to the Securities and Exchange Commission (SEC), developers George Perez and Jerome O'Hara helped Madoff to run his elaborate Ponzi scheme for 15 years by falsifying computer records and forging financial documents. The men are said to have played a crucial role in Madoff's multi-billion dollar scam.

The SEC alleges that the two programmers helped Madoff by creating phoney trade records and stock reports to cover up non-existent transactions. Additionally, the SEC said that the pair maintained a system known as 'House 17' which created falsified documents and reports.

"Without the help of O'Hara and Perez, the Madoff fraud would not have been possible," said SEC New York regional director George Canellos.

"They used their special computer skills to create sophisticated, credible and entirely phoney trading records that were critical to the success of Madoff's scheme for so many years."

The SEC said that O'Hara became unsure about his role and threatened to leave the operation. Madoff is said to have retained the two by raising their salaries 25 per cent and giving each a $60,000 (£36,000) bonus.

The SEC is asking that the men turn over the money along with other earnings from the work, in addition to imposing other financial penalties. Additionally, the pair could face up to 30 years in prison on related criminal charges.