CRIME

1st of 5 Madoff ex-employees faces sentencing for role in multi-billion dollar fraud

Associated Press
Published | Updated

Daniel Bonventre, former director of operations for imprisoned financier Bernard Madoff, arrives at federal court for a sentencing hearing, Monday, Dec. 8, 2014 in New York. 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 of charges related to the multi-decade, multi-billion dollar fraud. (AP Photo/Mark Lennihan) (The Associated Press)

Daniel Bonventre, former director of operations for imprisoned financier Bernard Madoff, arrives at federal court for a sentencing hearing, Monday, Dec. 8, 2014 in New York. 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 of charges related to the multi-decade, multi-billion dollar fraud. (AP Photo/Mark Lennihan) (The Associated Press)

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.