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The Boston Globe

Business

Defense: Madoff kept employees in dark about fraud

NEW YORK — Bernard Madoff was a Wall Street rock star who charmed billionaires, celebrities, regulators, and his employees, including five of his former workers who are on trial for fraud, defense attorneys told a jury Thursday in opening statements.

Lawyer Andrew James Frisch said Madoff and his former finance chief — government cooperator Frank DiPascali — were ‘‘depraved and pathological’’ as they delivered millions of lies to disguise a fraud that cheated thousands of investors out of billions of dollars.

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