Two former Madoff employees arrested

Two former employees of disgraced financier Bernard Madoff have been arrested by the FBI in relation to his massive Ponzi scheme, according to FBI spokesman Jim Margolin.

Joann Crupi was arrested last night in New Jersey and Annette Bongiorno was taken into custody in Florida. Charges against the two will be announced later Thursday.

Madoff pleaded guilty in 2009 to 11 counts related to running the largest Ponzi scheme in history and was sentenced to 150 years in prison.

The arrests are just the latest in a series since Madoff's fraud collapsed in 2008. To date, two former executives, two computer programmers, and an accountant of Madoff's have faced charges. Frank DiPascali, Madoff's former finance chief, pleaded guilty to fraud charges in 2009.

The government had previously filed civil complaints against Bongiorno and Crupi, both longtime Madoff employees who worked as supervisors of his "back office" staff, seeking the forfeiture of millions of dollars worth of assets, including homes and luxury cars, that they allegedly received while involved in Madoff's scheme.