On February 25th, the SEC filed civil charges against Daniel Bonventre for his involvement in Bernard Madoff's Ponzi scheme. As Madoff's Director of Operations, Bonventre ran the back office at Bernard L. Madoff Investment Securities LLC ("BMIS"), and oversaw the firm's accounting and securities clearing functions for at least 30 years. The SEC alleges that Bonventre knew of the Ponzi scheme and made at least $1.9 million in personal profits from the scheme through fake, backdated "trades" in his own investor account at BMIS. SEC v. Bonventre, Lit.Rel.No. 21424; SEC Press Release. Reuters reported Bonventre has been arrested on related criminal charges, noting that the charges link Madoff's investment advisory business, which was originally associated with the Ponzi scheme, to the broker-dealer where Madoff's brother and sons worked. Arrest. On February 24th, Bloomberg reported that victims of Madoff's Ponzi scheme are suing the president and directors of the SIPC alleging that the SIPC trustee in charge of the Madoff matter is defrauding customers by basing claim calculations on amounts deposited less withdrawals, rather than on the statements Madoff sent to investors. Lawsuit.