Wednesday, March 18, 2009
Bernie the Gonif's CPA arrested
Because everybody knows that all successful frauds need a friendly, cooperative CPA or two to soothe peoples qualms about what you are doing.
Prosecutors say the 49-year-old Friehling essentially rubber-stamped Madoff's books for 17 years, serving as Madoff's auditor from 1991 through 2008 while operating from a discreet building in suburban New York.Well, whadaya know, another no work, big paycheck job. No wonder his firm was a one man shop. Now we wait to see if the prosecution can flip this little man who probably does not want to spend 105 years in a "pound you in the ass" prison.
Authorities said that if Friehling had done his job, Madoff's financial statements would have shown his company owed tens of billions of dollars to his customers and was insolvent.
"Mr. Friehling's deception helped foster the illusion that Mr. Madoff legitimately invested his clients' money," said acting U.S. Attorney Lev L. Dassin.
The relationship between the accountant and Madoff was so cozy that Friehling and his family pulled $5.5 million from accounts with Madoff since 2000 and had a balance of more than $14 million as recently as November. Prosecutors said it's a conflict for accountants to have such large sums invested with clients.
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