Friday, March 20, 2009

Accountant Charged in Madoff Ponzi Scheme

Madoff's accountant has been charged with securities fraud and related charges arising from an alleged failure to conduct audits.

They are NOT charging him with knowing of the scheme, but rather for falsely certifying that he audited the financial statements.

Interesting legal distinction, undoubtedly the same punitive result, cumulative maximum sentences are 105 years.

The SEC also filed a civil suit against him.

Accountant Charged in Madoff Ponzi Scheme



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