Another player in the Bernie Madoff saga has fallen. His longtime auditor, David Friehling, pleaded guilty in federal court on Tuesday to charges of securities fraud, investment adviser fraud, making false filings with the SEC, and obstructing or impeding the administration of the Internal Revenue laws (among others).
Despite the plea, Friehling still told U.S. District Judge Alvin K. Hellerstein, "At no time was I ever aware Bernard Madoff was engaged in a Ponzi scheme."
Friehling was Madoff's auditor from 1991 to 2008, and because of how he carried out those duties, he could face up to 108 years in the slammer. He could get plenty of leniency for cooperating with prosecutors, though. His former boss, meanwhile, is currently serving a sentence of 150 years.
According to the feds, Friehling merely rubber stamped everything for Madoff and was a small-timer rather than a criminal mastermind. Rather than be perp-walked from a city skyscraper, his old digs were in New City, New York, outside the prestige of Manhattan.
Two others pled out before Friehling -- Madoff CFO Frank DiPascali and Madoff himself. DiPascali is cooperating with the authorities and is set to be sentenced in May. Madoff, on the other hand, is winning fights and making friends in Butner, North Carolina.
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