Bernard Madoff was recently sentenced to 150 years in prison for committing the largest case of investment fraud ever perpetrated by a single person. However, his accountant, David Friehling, has maintained that he is innocent of any wrongdoing, despite the fact that he is the only other person besides Madoff to be charged in the multi-billion dollar fraud case.
 
The prosecution in the case has alleged that Friehling was responsible for verifying the transactions at Madoff’s fraudulent investment firm, but that he also failed to realize that Madoff was committing false transactions. This lack of oversight allowed Madoff to swindle millions …read more

In a move that might inspire empathy out of the American public if it was anyone other than the wife of the man who orchestrated the biggest Ponzi scheme in history, Ruth Madoff has decided to give up a claim of $80 million in assets. This leaves Madoff with $2.5 million, much less than she would have gotten if she pursued the claim.
This settlement came late yesterday after U.S. District Judge Denny Chin, who is also responsible for sentencing Bernard Madoff in court on Monday, approved of the decision. Ruth Madoff will not be present for the sentencing but she …read more

Bernard Madoff is responsible for committing what has been referred to as the largest investment fraud ever perpetrated by a single person, so large that it is taking a long time to account for each individual victim and loss. In spite of this, prosecutors urge the judge in charge of the case to go ahead and sentence Madoff for his crimes.
 
The records of the activities of Madoff’s firm go all the way back to 1979 and much of it still needs to be entered into a computer, meaning that the exact amount of money that Madoff swindled out of investors …read more