National

Nov 3, 2009 11:10 AM by Associated Press

Madoff's long-time auditor pleads guilty

Disgraced financier Bernard Madoff's longtime auditor has entered a guilty plea in a federal court in Manhattan.

David Friehling entered a plea Tuesday. The judge was questioning him before deciding whether to accept it.

Prosecutors said previously that they expected Friehling to plead guilty to securities fraud and other charges that are punishable by up to 108 years in prison. However, substantial cooperation can result in leniency.

Prosecutors said Friehling would have known that Madoff was carrying out history's biggest Ponzi scheme - because he kept the books.

 

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