Former Bernard Madoff employees on trial for allegedly aiding his $17 billion fraud are focusing their defense on ex-colleagues who helped perpetuate the scheme and weren’t charged. At least three people who for years promoted fake trading strategies with clients of Madoff’s investment advisory unit or helped write tickets for fictitious trades weren’t prosecuted, Frank DiPascali, Madoff’s former finance chief, who is testifying against his ex-colleagues, said yesterday in Manhattan federal court. The people didn’t know it was a fraud because DiPascali lied to them for years, he said under questioning from defense lawyers. More on Bloomberg here.
