Accountant Charged In Madoff Case
The United States Department of Justice has announced that New York CPA David L. Friehling - who was the accountant for Bernard L. Madoff Investment Securities, LLC - turned himself in today to federal authorities. Friehling is charged with securities fraud, aiding and abetting investment advisor fraud and four counts of filing false audit reports with the United States Securities and Exchange Commission. Friehling –who was the accountant of the company for the last seventeen years- allegedly falsely certified that he had prepared and audited various financial statements in accordance good accounting standards and principles. The subject financial documents allegedly include balance sheets, statements of income, statements of cash flows and reports on internal control. The subject documents are alleged to have been filed with the SEC and sent to clients of Bernard L. Madoff Securities Investment, LLC. Friehling is scheduled to be arraigned later today in Manhattan federal court. Friehling- who is age 49- faces up to 105 years in a federal prison if convicted. The charges are merely accusation and Friehling is presumed innocent unless and until proven guilty in a court of law.
