JAIME FROM TV3 'BUT HE'S MY BOSS."
WHAT A LAME EXCUSE! JAIME ENJOYED BEING ON TV3 WHILE EVERYONE ELSE IN MEDFORD GOT SCREWED!
Crime
Ponzi mastermind Bernie Madoff struggled with long division, longtime former employee testifies
The claim emerged in Manhattan Federal Court on Thursday when David Krugel, who started working for Madoff in the 1970s, said Madoff started talking to him about calculations related to bond trades.
Comments (2)By Rich Schapiro / NEW YORK DAILY NEWS
Read more: http://www.nydailynews.com/news/crime/bernie-madoff-struggled-long-division-article-1.1502898#ixzz2nB7wNNTF
HEY, JAIME, FROM MEDFORD CABLE NEWS - IS THERE AN ECHO IN HERE?
the dark over the $65 billion fraud.
RELATED: MADOFF HAD CHECKS TOTALING $175M ON HIS DESK DAY AFTER BUST
But Kugel told a different story, testifying that former Madoff secretary Annette Bongiorno and office worker Joann Crupi were directly involved in the scam.
Kugel, who spent most of his career in the legitimate trading section of Madoff Securities, admitted to pouring money into his own investment account with the firm even after he learned the trades were all bogus.
"He was my boss," Kugel said. "I knew it was wrong but I didn't question him."
Kugel said Madoff told him that he was making money for the firm by investing in "shopping centers and foreign currency."
Satisfied with that dubious explanation, Kugel said that he convinced several family members to open accounts with Madoff as well.
THE MATH MAN
"Was Bernie/Ronny good at math?" U.S. Attorney Matthew Schwarz asked Kugel, 68.
"Some aspects, yes. Some aspects, no," replied Kugel, a government witness who worked for the serial scammer for nearly 40 years.
"He had trouble with long division." That's why he was thrown out of Medford High School
Kugel, who pleaded guilty to fraud charges in 2011, was testifying for the second straight day in the trial of Madoff's five former workers.
The ex-staffers claim they were in the dark over the $65 billion fraud.