David Friehling: Madoff’s Accountant Arrested and Charged With Securities Fraud
Posted on | March 18, 2009 | No Comments
On March 18th, 2009, David Friehling, Bernie Madoff’s accountant has been arrested and charged with securities fraud. He pretended to do audits of Madoff’s investment firm. The charges go back for 17 years. The SEC stated that Friehling “did not perform anything remotely resembling an audit.” Obviously this is the case as the Ponzi Scheme has been going on for almost 20 years.
Friehling’s lawyer, Andrew Lankler, has made no comments on the charges placed on his client. Friehling faces up to 105 years in prison. He surrended to the FBI on March 18th and is expected to appear in court later that day. Authorities said the fraud went on from 1991 to 2008.
To put it in laymans terms, David Friehling claimed that he audited the earnings of Bernie Madoff but in reality just falsified numbers. He took millions of dollars from Madoff to change the number to look realizistic and not portray any type of ponzi scheme.
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