Miami investors may be interested to learn that on Dec. 10, a man who reportedly worked as a computer programmer in Bernard Madoff's multibillion dollar Ponzi scheme was sentenced to less than three years in prison. Additionally, the man was also required to symbolically forfeit approximately $19.7 billion jointly with the other defendants who played a part in the fraud scheme.
The 48-year-old man was convicted on charges that included conspiracy and securities fraud in March. Prosecutors stated that the man and the other employees who were also facing charges knowingly played a part in the scheme by creating fake documents. The convicted computer programmer reportedly developed and maintained the computer programs that allowed the fraud scheme to operate. He was believed to have played a part in the fraud scheme from 1991 until the firm collapsed in 2008.