Top Leaderboard, Site wide
August 21, 2014
Truthdig: Drilling Beneath the Headlines
Help us grow by sharing
and liking Truthdig:
Sign up for Truthdig's Email NewsletterLike Truthdig on FacebookFollow Truthdig on TwitterSubscribe to Truthdig's RSS Feed


sign up to get updates

American Catch

Truthdig Bazaar
Yogi Berra: Eternal Yankee

Yogi Berra: Eternal Yankee

By Allen Barra

more items

Ear to the Ground

Madoff Accountant Arrested

Email this item Email    Print this item Print    Share this item... Share

Posted on Mar 18, 2009
Money Bags
U.S. Department of Justice

Things are heating up for associates of Bernie Madoff, pictured in his mug shot. 

David Friehling, the accountant of Bernard Madoff, was arrested Wednesday on charges of securities fraud. Friehling is the first alleged accomplice to be named by authorities in connection with Madoff’s $65 billion Ponzi scam, though the accountant was charged with auditing failures, not direct participation in the scheme itself.

Friehling was sole proprietor of the Friehling & Horowitz accounting firm. The firm occupied a 550-square foot space in New City, a northern suburb of New York City in Rockland County, and served as auditor to Bernard L. Madoff Investment Securities since 1991, prosecutors said.

Friehling, 49, is not accused of knowing about the scheme. Rather, he allegedly deceived investors by falsely certifying that he had audited the financial statements of Madoff’s firm.

“Friehling failed to conduct audits that complied with GAAS and GAAP,” Acting U.S. Attorney Lev Dassin said in a statement, referring to generally accepted accounting principles and standards. “He did little or no testing, no verification of the ‘facts’ he certified. His job was not merely to rubber-stamp statements he didn’t verify.”

Read more

More Below the Ad


Square, Site wide

New and Improved Comments

If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

By Bisbonian, March 18, 2009 at 3:05 pm Link to this comment
(Unregistered commenter)

“Off with their Heads!”

Report this
Right 1, Site wide - BlogAds Premium
Right 2, Site wide - Blogads
Join the Liberal Blog Advertising Network
Right Skyscraper, Site Wide
Join the Liberal Blog Advertising Network

A Progressive Journal of News and Opinion   Publisher, Zuade Kaufman   Editor, Robert Scheer
© 2014 Truthdig, LLC. All rights reserved.