Madoff computer programmers arrested; could face 30 years in $60B fraud

Federal authorities arrested two computer programmers who worked for convicted Ponzi patriarch Bernie Madoff (pictured), charging them with several criminal counts for their alleged role in the massive $60 billion scam. George Perez and Jerome O'Hara appeared in federal court Friday and faced charges of conspiracy, falsifying books and records of a broker dealer, and falsifying books and records of an investment adviser. The pair worked in Madoff's secretive 17th floor office at the Lipstick building, where the fraud was orchestrated.

"Jerome O'Hara and George Perez allegedly helped construct Bernie Madoff's house of cards," Preet Bharara, the United States attorney in Manhattan, said in a statement. "The computer codes and random algorithms they allegedly designed served to deceive investors and regulators and concealed Madoff's crimes."