BNY Mellon Raised Madoff’s Credit by $225 Million in 2006

A Bank of New York Mellon Corp. vice president told a jury she helped boost Bernard Madoff’s credit line by $225 million in 2006, based on data provided by a former Madoff executive accused of aiding his $17 billion fraud. Daniel Bonventre, one of five ex-Madoff employees on trial in Manhattan, won an increase in the investment firm’s secured credit line to $300 million from $75 million to pay for what he said was a boost in trading activity, Monika Arora, who works in BNY Mellon’s securities industry banking division, testified today in federal court in Manhattan. More on Bloomberg here.

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