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Madoff Ex-Aide Knew of Scheme to Pay His Son, Jury Told

Bernard Madoff added the son of a “key” executive to his payroll even though he didn’t work there, a jury was told in the trial of five ex-employees accused of aiding the con man’s $17 billion Ponzi scheme. Craig Kugel, who pleaded guilty in June 2012 to a tax scheme that gave salaries and benefits to people who weren’t Madoff employees, testified yesterday in federal court in Manhattan that the son of Daniel Bonventre, the firm’s operations chief, was listed as an employee so he could keep receiving company health insurance after graduating from college. More on Bloomberg BusinessWeek here.

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