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Madoff's auditor pleads guilty

November 04, 2009|Times Wire Reports

Bernard L. Madoff's longtime auditor pleaded guilty to securities fraud charges, saying he failed to verify the disgraced money manager's financial records but did not know Madoff was running history's biggest Ponzi scheme.

David Friehling, 49, entered the plea in U.S. District Court in Manhattan, apologizing to the thousands of victims who lost billions of dollars. The plea was part of a cooperation deal with prosecutors.

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