Prosecutors have charged Bernard Madoff’s longtime accountant with securities fraud, WCBSTV reports.
David G. Friehling, the accountant for Bernard L. Madoff Investment Securities surrendered Wednesday morning on a criminal complaint charging him with securities fraud, aiding and abetting investment adviser fraud, and four counts of filing false audit reports with the SEC.
Friehlig, 49, faces a statutory maximum sentence of 105 years in prison. He will be presented later today before United States Magistrate Judge in Manhattan federal court.
Meanwhile, the government said earlier this week it will seek the $7 million Manhattan penthouse as well as another $62 million that Ruth Madoff had sought to keep. Bernard Madoff, 70, pleaded guilty last week to securities fraud and perjury, among other charges. Madoff’s lawyers had indicated earlier that they planned to claim Ruth Madoff was entitled to keep as much as $69 million in assets.
They said the assets were not part of Madoff’s fraud and that they were in her name. The document detailing Madoff’s assets was contained in papers his lawyers filed Friday in an effort to get him freed on bail. The document shows the Madoffs owned four real estate properties worth $22 million and had $17 million in cash and a $7 million yacht, among other assets.
(Moshe Altusky – YWN)
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12 Responses
Oy le Rosho Oy le Sh’cheno.
THIS WHOLE MADOFF AFFAIR IS A DISTRACTION.
Senators Dodd and Schumer, and Congressman Frank are getting away with trillions in losses, while the media is focusing on relatively-mall-potatoes Madoff.
I’m beginning to suspect this is intentional to protect the left-wing Democrats who set the stage for this collapse by forcing the banks to give sub-prime mortgages to people who had no means to pay.
deepthinker,
You sound like Savage who is busy all day with conspiracy theories.
Most wouldn’t consider 50 billion small potatoes relative to anything.
deepthinker is right on!!
#2 maskim
Great reporting from Moshe Altusky.
All these apologies for Madoff, like 2, 4, and 5, really make you wonder…
Even if it was a distraction, Madoff still did what he did and people lost what they lost.
The media focuses on what people feel is big news, and this is certainly big news.
Should we pretend nothing happened just in case your theory is correct?
LET’S CLARIFY:
I didn’t say “It’s nothing!”
What I simply noticed was that Madoff, a bit player, is receiving 10 times as much coverage as the real big-time crooks.
Hence, in the mind of the public, they are getting away with their much bigger crimes.
This is known–to the Herring MayVeinIm–as the “Red (MatYas) Herring Method.”
By the way, Re: Conspiracy Theories, “You are not paranoid, if they really are out to get you!”
Rachmastrivke Rebbe would disagree with you deepthinker. His Ponzi scheme is the biggest on record ever of any Ponzi scheme that has happened in the country. Besides, the huge majority that were affected were Jews.
Just ask the Rachmastrivke Rebbe….
10, the nusach I heard is, Just because you are paranoid doesn’t mean they aren’t out to get you.
What did the Rachmastrivke Rebbe do?