A Bernie Madoff exec accused of helping pull off the epic $17 billion Ponzi scheme claims he was duped like everyone else by a master fraudster “who seemed to have the respect of the entire world.”
Taking the stand in Manhattan federal court, former Madoff operations chief Daniel Bonventre denied allegations by the feds and former Madoff CFO Frank DiPascali — an admitted fraudster turned star government witness — that he helped cook the books to throw off both government regulators and auditors from accounting giant KPMG.
Bonventre, 68, also told jurors how Madoff, who he used to affectionately call “boss,” helped save his wife’s life by convincing her to see his cardiologist.
“He appeared to be the most magnanimous, caring individual,” said Bonventre, who, along with four other ex-Madoff staffers on trial, is fighting fraud charges that also include pocketing millions of dollars in unreported taxable income.
“He was philanthropic. Amazing to watch, a very empathetic individual. At least that is what he appeared to be.”
Bonventre told jurors his opinion of his two-faced ex-boss soured once the feds busted Madoff’s Ponzi scheme in December 2008. He said he now thinks of him as a “terribly ill man” who manipulated everyone from Wall Street whizzes to celebs.
“He hurt so many people with what he did,” said Bonventre, who worked at Madoff Securities for 40 years. “There was no generosity of spirit. None of it was real.”
Bonventre said part of Madoff’s charm was his generosity to employees – which he learned of first-hand.
He said Madoff went out his way in the 80s to get better doctors for Bonventre’s first wife after she was diagnosed with cancer before ultimately passing away in 1985.
And he also recalled how Madoff was instrumental is saving the life of his current wife, Barbara.
He said Barbara began complaining about chest pains years ago and went to see a cardiologist who determined she had a problem with her aorta valve – which carries oxygen-rich blood from the heart to other parts of the body.
Her doctor, Bonventre said, didn’t think her issue was serious — and even told Barbara to “continue exercising. “ “I told Bernie, and he said I should get a second opinion,” Bonventre recalled. “He even gave me the home number for his cardiologist.”
Bonventre said Madoff’s doctor examined Barbara and found she had an aortic aneurysm. Such a condition, if untreated, could burst and quickly lead to death.
He said his wife “immediately had surgery to correct the problem.” Bonventre’s wife watched him testify in court with other family members.
Bonventre, who has yet to be cross-examined by prosecutors, said he now thinks a lot of Madoff’s kind acts were aimed at throwing off the scent of his illegal conduct.
His co-defendants — former Madoff secretary Annette Bongiorno, account manager Joann Crupi and computer programmers Jerome O’Hara and George Perez — have previously said they’re either undecided about testifying or that it’s highly unlikely.
Defense lawyers say Bonventre’s testimony could help their clients determine whether to take the stand.