A former director of operations for imprisoned swindler Bernard Madoff’s investment firm has been arrested and charged with conspiracy and securities fraud for his role in the massive fraud.

The FBI said it arrested Daniel Bonventre, 63, at his Manhattan residence on Thursday morning. He is scheduled to appear later in federal court in New York on charges in a criminal complaint accusing him of concealing the Madoff fraud and its huge losses.

Bonventre is the sixth person to be criminally charged over the December 2008 collapse of Bernard L. Madoff Investment Securities LLC in New York. The firm and Madoff International Securities in London were the bases for a decades-long worldwide swindle that investigators have estimated at as much as $65 billion.

Madoff pleaded guilty last March and is serving a 150-year sentence.

Bonventre was also charged in a separate civil complaint filed by the U.S. Securities and Exchange Commission with falsifying accounting records and siphoning investor funds.

Ex-Madoff Operations Director Arrested, Charged

by Banker & Tradesman time to read: 1 min
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