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Five former employees of Bernard Madoff convicted in New York fraud trial

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By LARRY NEUMEISTER, Associated Press

— Five former employees of imprisoned financier Bernard Madoff were convicted Monday at the end of a six-month trial that cast them as the long arms of their boss, telling an elaborate web of lies to hide a fraud that enriched them and cheated investors out 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.

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