Abstract
This is the second in a series of five articles focusing on how Bernard Madoff's confidence game (con game) worked. This paper examines the activities of a handful of employees who were engaged backstage, hidden from government regulators and most investors, to further Madoff's crime. Their work revolved around the pretense that securities were being bought and sold. All these fairly well-paid accomplices pled guilty to being involved in criminal activities, although only one acknowledged that he knew he was part of a Ponzi scheme. Regardless of how they describe or label their activities, Madoff's back office had evolved into an organized gang of criminals.
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