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SUNDAY, NOVEMBER 22, 2009
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6

Madoff Accountant Pleads Guilty, Faces 114 Years

But denies knowing about Ponzi scheme

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(Newser) – Bernie Madoff's accountant says he's a lousy auditor but no criminal. Still, he pleaded guilty to a slew of fraud charges today that could land him in prison for 114 years when he's sentenced in February. While admitting that he failed to conduct independent audits and took the statements of Madoff employees at "face value," David Friehling insisted he never knew about Madoff's Ponzi scheme, notes the Wall Street Journal.

David Friehling exits Manhattan federal court Tuesday.
David Friehling exits Manhattan federal court Tuesday.   (AP Photo/ Louis Lanzano)
David Friehling, left, exits Manhattan federal court Tuesday.
David Friehling, left, exits Manhattan federal court Tuesday.   (AP Photo/ Louis Lanzano)
A file photo for David Friehling.
A file photo for David Friehling.   (AP Photo/ Louis Lanzano, file)
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(In) the biggest mistake of my life, I placed my trust in Bernard Madoff. - David Friehling, accountant who invested $500,000 with Madoff

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6 comments
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Mia
Nov 3, 09 12:30 PM CST
I call BS! Reply
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cochiserocks
Nov 3, 09 12:32 PM CST
Yeah - right. A guy who knows about money, trained in the counting of money, understands rates or return, investment, markets, etc...knew nothing about money. He must have been chosen for the role because of his ability to 'look the other way' in the first place. Nice to see an accountant get it in the neck for once - they normally just get paid, whatever happens, and take no responsibility for the consequences. I'd like to see his lawyers up against the wall next. Reply
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Abdulsamadabdul
Nov 3, 09 7:33 PM CST
And for reason would you place his lawyers "against the wall", and to what end?
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Netstorm2k9
Nov 3, 09 3:41 PM CST
Sigh. Reply
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Abdulsamadabdul
Nov 3, 09 7:33 PM CST
typo-what reason???? Reply
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