Manhattan U.S. Attorney Seeks Civil Forfeiture of Approximately $5 Million in Assets Controlled by Two Former Bernard L. Madoff investment Securities LLC Employees
PREET BHARARA, the United States Attorney for the Southern District of New York, announced today the filing of two civil Complaints seeking the forfeiture of approximately $5 million in assets controlled by ANNETTE BONGIORNO and JOANN CRUPI, a/k/a "Jodi." As alleged in the civil Complaints filed today, BONGIORNO and CRUPI each spent more than 25 years working for Bernard L. Madoff Investment Securities LLC, the fraudulent investment advisory business owned and operated by BERNARD L. MADOFF. The assets allegedly subject to forfeiture constitute property traceable to proceeds of MADOFF's fraud. According to the civil Complaints filed in federal district court in Manhattan today: The investment advisory business of Bernard L. Madoff Investment Securities LLC ("BLMIS") was operated from at least the early 1980s as a massive Ponzi scheme, defrauding investors of billions of dollars. Rather than use client funds to invest in securities, as promised, BLMIS diverted...