NEW YORK — Five former employees of imprisoned financier Bernard Madoff were convicted of conspiracy Monday to cap a six-month trial in which they were accused of enriching themselves while telling an elaborate web of lies to hide a fraud that cheated investors of billions of dollars.
The trial — one of the longest in the storied history of Manhattan federal court — was the first to result from the massive fraud revealed in December 2008 when Madoff ran out of money and was arrested. He pleaded guilty and is serving a 150-year prison sentence.
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