Madoff’s operations director arrested

Madoff 2The man who worked 30 years for Bernie Madoff overseeing the back office record-keeping staff has been arrested on fraud and conspiracy charges related to Madoff’s collapsed multi-billion dollar Ponzi scheme.  Law Professor Tamar Frankel, a securities law authority and author of “Trust and Honesty: America’s Business Culture at a Crossroad,” says the arrest may help Madoff’s bilked investors.

“His case is important for others who were involved and are currently under the mask of ignorance. If this ‘director’ confesses to having done wrong but leaves out the details, others might remain in the shadows. But if he fights and brings facts, more can be known and more actors can be implicated.”

Contact Tamar Frankel, 617-353-3773, tfrankel@bu.edu

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