The Securities and Exchange Commission announced that Bernard Madoff’s auditors have agreed not to contest the SEC’s charges that they enabled Madoff’s fraud by falsely stating they audited the convicted felon’s financial statements. The SEC submitted the consents of David G. Friehling and Friehling & Horowitz to the Honorable Judge Louis L. Stanton, a federal judge in the Southern District of New York. Friehling and F&H consented to the partial judgment without admitting or denying the allegations made by the SEC. The SEC alleges that Friehling and F&H enabled Madoff’s Ponzi scheme by falsely stating, in annual audit reports, that F&H audited Bernard L. Madoff Investment Securities.
Madoff’s Auditors Won’t Contest SEC Charges
David G. Friehling and Friehling & Horowitz will not contest the SEC’s charges against them.
November 3, 2009