Madoff Auditors Won't Contest SEC Charges

11-04-2009 | Source: Derivatives Week

The auditors for Bernard Madoff have agreed not to contest charges brought by the Securities and Exchange Commission that they enabled fraud by the now-jailed Ponzi scheme investor. According to the SEC, the auditors, David Friehling and accounting firm Friehling & Horowitz, consented to a proposed partial summary judgment imposing permanent injunctions against them after being charged with falsely stating they had audited Madoff's financial statements in accordance with relevant accounting and auditing standards.

Click here to read the release from the SEC.