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Updated: February 25, 2010 20:41 IST

Former Madoff operations executive arrested

AP
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In this March 10, 2009 file photo, Bernard Madoff, exits Manhattan federal court in New York. Photo: AP.
In this March 10, 2009 file photo, Bernard Madoff, exits Manhattan federal court in New York. Photo: AP.

The FBI says it has arrested the former operations director for Bernard Madoff Investment Securities.

FBI spokesman James Margolin, says 63—year—old Daniel Bonventre, was arrested early Thursday at his Manhattan home.

The U.S. attorney’s office says he is charged with conspiracy, securities fraud, and tax crimes. Mr. Bonventre was expected to appear in court later in the day.

Madoff is serving a 150-year prison sentence. He admitted cheating investors out of billions of dollars through an investment Ponzi scheme.

The name of Mr. Bonventre’s attorney was not immediately known.

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