Bernie Madoff's Secretary Can't Make Bail

62-year-old Annette Bongiorno worked for Bernie Madoff for 40 years and made some serious cash while she was at it: her $920k "investment" in his ponzi scheme got her $14 million—of which she still has $2.5 in cash and stocks. But now she is under arrest and she isn't being allowed to use any of her ill-gotten gains to pay her $5 million bail. Soon enough her house arrest in her $3 million Florida home (one of two she's got) may become a big house arrest.

Bongiorno is being charged with conspiracy, tax evasion and other charges by the feds—who also are looking for that money back, thank you very much— and she faces 75 years or more in the slammer if she is convicted.

The problem is now she can't find anyone to co-sign her bond. Last week a judge ordered her to come up with between five and 10 more co-signers after her initial eight backers "included a tax deadbeat and a relative who's more than $100,000 in debt." Whoops!

And in case you thought that nobody was looking to gain from Mark Madoff's suicide look no further than Bongiorno's lawyer. He points out that nobody wants to help his client out because the case is so shameful that "You've got people hanging themselves" over it.

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By Garth Johnston in News on December 14, 2010 9:48 AM

Comments [rss]

JacqueMehoff

I bet that other secretary interviewed for comments on the son's suicide is getting scared now. I hope this is just the beginning and to the feds, what took you so long?

Love Your Life

The whole clan better get what they deserve.

Peter Rosa

Bail might be too expensive, but I'm sure she could afford a dog leash.

louisal

None of Madoff's family, friends (if he had any) nor cronies are voluntarily giving up a penny of the money that "Bernie" shoved their way. With all the pity going to Mark, recall that maybe if Mark had made an effort to give up some of his ill gotten fortune to "assist" people ruined by the Madoff family, his public image could have been more favorable. The fact is he held onto every penny "given" to him by his father and made no effort whatsoever to right the wrongs of his family. He received many millions in "loans" salary and bonuses and made it clear that he would take it all to his grave with him, leaving Madoff victims penniless. He wasn't Mr. "nice guy" and was as evil as his father.

Rocknrope

Well said. If he and his brother did indeed call the authorities on his father and was in the dark about the situation beforehand, he could have remade himself by going on a full scale mea culpa initiative once his father was found (or pleaded, I forget) guilty. He probably would have been redeemed to a certain degree by the public, and even though losing his money, he would be able to find new work. Instead, he holed up in his Soho digs and manhandled cameras.

louisal

As you know, from my comment, I totally agree with you. The interesting point is that Mark knew that much of the money he got from his dad was in the form of "loans" and he also knew that the bonuses and salary he received were based on the Madoff families criminal activities. Despite all that Mark fortified the barricades and did whatever he could to keep that money. Part of this included giving some of this money to his children, dragging them into the mess in an attempt to further his efforts at hiding his funds. He was a disgusting, revolting guy. Anyone who feels sympathy for this guy is nuts. He did his part to keep the fraud ongoing, even to the extent of bringing his minor children into the mess he was in.

fuboy

1) AAAAH!

2) Is it me, or does she look like she's about to charge? Something in those eyes makes me fear for my life; like my last sight will be seeing my flesh and blood dangling from her jowls.

freddynyc

Yeh, investigators should check her backyard and basement just as a precaution...

DavidBuivid

$14M is a lotta scratch

Rocknrope

I'm all for nailing everyone who was involved in Madoff's scheme, but does a secretary really have much to do with perpetrating the conspiracy? She mailed shit that Bernie told her to mail. I seriously doubt that she's the type that would say, "You know Bernie, I analyzed your hedging strategy and can't make the numbers work."

whitecastlerock

True, most executive assistants are able to own 2 multi-million dollar homes from licking stamps and fetching coffee for the boss

Rocknrope

I'm sure she felt like she hit the jackpot, and when your boss is a multibillionaire, her paltry millions probably felt like chump change.

fuboy

I'm with you in that she may not have been a key player in the scheme, but 14 million to a secretary sounds a bit like a payoff.

And, she had it spread around like someone with good financial planning. Some of it in real estate, some of it in stocks, some tucked away as cash...

I'm speculating, but in my mind it looks like she had help with "how to disperse the earnings" from Madoff - which just makes the situation look worse for her.