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03 Nov 2009
The auditors of digraced fraudster Bernard Madoff have will have permanent injunctions placed against them after admitting to a partial judgement in a US court.
The US financial regulator, the Securities and Exchange Commission said Madoff’s auditor, Friehling and Friehling & Horowitz, would not fight claims they “enabled Madoff's fraud by falsely stating they audited the convicted fraudster's financial statements”
The SEC claimed 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 LLC's financial statements pursuant to standards.
Read the full SEC statement:MADOFF AUDITORS CONSENT TO PARTIAL JUDGMENT IMPOSING PERMANENT INJUNCTIONS
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Briefings
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