The U.S. attorney's office in New York said Jerome O'Hara and George Perez were arrested Friday at their homes. It said the pair formerly worked for Bernard L. Madoff Investment Securities.
A criminal complaint charges them with conspiracy, falsifying books and records of a broker-dealer, and falsifying books and records of an investment adviser.
The Securities and Exchange Commission, meanwhile, said the defendants provided technical support to produce false documents and trading records.
The defendants' attorneys did not immediately return calls for comment.
The 71-year-old Madoff was sentenced in June to 150 years in prison for orchestrating a decades-long Ponzi scheme.
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