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May 2009 » Why Wasn't Madoff's Auditor Peer...
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Helen M. Roybark, PhD, EdS, CPA, CFE
On March 12, 2009, Bernard L. Madoff pleaded guilty to 11 counts of fraud, perjury, and money laundering connected with the largest Wall Street Ponzi scheme ever recorded—a reported $65 billion. Madoff faces a potential prison sentence of 150 years. But since December 2008, attention has turned to David G. Friehling, Madoff's accountant. Friehling was arrested on March 19, 2009, and charged with securities fraud and with aiding the investment advisor fraud committed by Madoff.
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