Ex-Madoff Employee Tells Jury of ‘Cut And Paste’ Trades

An ex-employee of Bernard Madoff on trial for allegedly aiding his $17 billion fraud oversaw backdating of trades for account statements that sometimes featured “cut and paste” data, a former assistant told a jury. Annette Bongiorno, who worked for Madoff for 40 years, would request trade dates and prices as much as a year old be used on account statements to reach pre-determined profit goals for customers, and cut out trade data to be taped onto some statements, Winnie Jackson, the defendant’s former assistant, testified yesterday in federal court in Manhattan. More on Bloomberg here.

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