It didn’t add up

Bernie Madoff’s accountant has been charged with fraud. I almost feel for the poor schnook – he’s 49 years-old and facing 105 years in prison (an unlikely outcome, but still enough to keep one awake at night). His problem: he probably doesn’t know enough about the workings of the fraud to be useful to the Feds, so no deal for him. He’s been charged with falsely certifying that he’d examined Madoff’s books when in fact he did no such thing (but collected $150,000 or so a year for so swearing). If he wasn’t looking, he has nothing much to say, so it’s up the river with him. Wait, though, until the Feds grab someone with knowledge of the players and squeeze him. Bernie may be content to spend the rest of his days in an 8 x 12 ‘ room – others will not.

2 Comments

Filed under Uncategorized

2 responses to “It didn’t add up

  1. anonymous

    Poor judgment….lots of risk for trivial pay

    Could have had a ~$150K/yr recession-immune government or non-profit job….similarly, would not need to do any work or have any skills

  2. CEA

    They’ll go after a bunch now, and then hit Bernie up again with a potential sentence reduction for his kids:

    “Friehling is talking. Pascali is talking. You tell us where the money is/what your sons know and maybe they won’t have to go to jail”.