Madoff auditors receive "permanent injunctions"
Auditors will not fight SEC claims they "enabled" Madoff fraud
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