| Page (1) of 1 - 11/03/09 |
 email article |
 print
page
|
|
David Friehling, an accountant with ties to disgraced financier Bernard Madoff, leaves the Manhattan federal courthouse in New York November 3, 2009. REUTERS/Lucas Jackson
NEW YORK (Reuters) - The former outside accountant for Bernard Madoff's firm pleaded guilty to fraud charges on Tuesday, but told a U.S. judge he did not know about the swindler's massive Ponzi scheme.
The judge ordered the former accountant, David Friehling, to remain free on bond of $2.5 million until he is sentenced next year.
"At no time was I aware that Mr Madoff was engaged in a Ponzi scheme," Friehling told U.S. District Judge Alvin Hellerstein in Manhattan federal court in pleading guilty to charges of securities fraud and several other crimes. "I never had contact with investors and never acted as a feeder to investors."
Madoff, 71, is serving a 150-year prison sentence after pleading guilty to the decades-long investment fraud of as much as $65 billion. A Ponzi scheme is one in which early investors are paid with the money of new clients.
(Reporting by Grant McCool; Editing by Tim Dobbyn)
2009 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies. For additional information on other Reuters media services please visit http://about.reuters.com/media/.
iTech SolarVoice 908
