Please ensure Javascript is enabled for purposes of website accessibility
January 30, 2023

Madoff Auditor Pleads Guilty, Solidifies ‘Worst Auditor Ever’ Status

That’s not an official title but if you’ve got suggestions for someone else, please, enlighten us.


Reuters:

He told the court that he did not conduct any independent auditing or verification of financial statements or tax returns provided by Madoff and “others” at Bernard L. Madoff Investment Securities LLC in New York.

Friehling did not state who the ‘others’ were but the U.S. Attorney hinted that we’ll get to know sometime. For now, Friehling is a free man, out on $2.5 million bond until his sentencing which is tentatively set for February.

He faces up to 114 years in prison but similar to Madoff’s chief bald-faced liar, Frank DiPascali, his cooperation should result in a lighter sentence. And by lighter we’re guessing that means he’ll still leave prison horizontally.

Madoff Accountant Pleads Guilty [WSJ]

That’s not an official title but if you’ve got suggestions for someone else, please, enlighten us.


Reuters:

He told the court that he did not conduct any independent auditing or verification of financial statements or tax returns provided by Madoff and “others” at Bernard L. Madoff Investment Securities LLC in New York.

Friehling did not state who the ‘others’ were but the U.S. Attorney hinted that we’ll get to know sometime. For now, Friehling is a free man, out on $2.5 million bond until his sentencing which is tentatively set for February.

He faces up to 114 years in prison but similar to Madoff’s chief bald-faced liar, Frank DiPascali, his cooperation should result in a lighter sentence. And by lighter we’re guessing that means he’ll still leave prison horizontally.

Madoff Accountant Pleads Guilty [WSJ]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

image representing tax law

Fourteen People Who Inspired Future Tax Criminals in 2022

The IRS Criminal Investigation unit has released its top cases for 2022 and in it we get reality TV personalities, a rogue tax preparer, some garden variety PPP fraud, and even a former decathlete with his own Wikipedia page. Pretty sure some of these people showed up in Accountants Behaving Badly, an irregular feature we […]

shocked chihuahua

No One Should Be Surprised to Learn FTX Used QuickBooks

Before the House Committee on Financial Services on Tuesday, recently-appointed FTX CEO John J. Ray III gave testimony to back up comments he made to the New York Times last month about FTX being a “complete failure” the likes of which he hadn’t seen in two decades. Back in the day, Ray was chairman of […]