NEW YORK – Imprisoned financier Bernard Madoff's former director of operations for investments is set to be sentenced on charges related to his part in the company's multi-decade, multi-billion dollar fraud.
Sixty-seven-year-old Daniel Bonventre will hear his sentence on Monday in federal court. He's the first of five Madoff ex-employees to learn their fate in the coming days after a jury convicted them earlier this year.
The government is seeking prison terms of more than a decade for each, saying they're most culpable besides Madoff for a fraud that cost thousands of investors nearly $20 billion. In court papers, the government said their crimes involved ongoing and systematic deception; for years, they repeatedly lied to investors, regulators, auditors, and banks.
Madoff was arrested in December 2008.
True Crime
The hottest stories ripped from the headlines, from crime to courts, legal and scandal.
By entering your email and clicking the Subscribe button, you agree to the Fox News Privacy Policy and Terms of Use, and agree to receive content and promotional communications from Fox News. You understand that you can opt-out at any time.
