Madoff auditor pleads guilty to securities fraud and other charges

Madoff auditor pleads guilty to securities fraud

NEW YORK — Disgraced financier Bernard Madoff’s (MAY’-dawfs) longtime auditor has pleaded guilty to securities fraud and other charges.

David Friehling (FREE’-ling) entered the plea Tuesday in federal court in Manhattan.

Prosecutors said previously that the charges could be punishable by up to 108 years in prison. However, substantial cooperation can result in leniency.

The government says Friehling would have known that Madoff was carrying out history’s biggest Ponzi scheme — because he kept the books. But he told the judge: “At no time was I ever aware Bernard Madoff was engaged in a Ponzi scheme.”

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

NEW YORK (AP) — Disgraced financier Bernard Madoff’s (MAY’-dawfs) longtime auditor has entered a guilty plea in a federal court in Manhattan.

David Friehling (FREE’-ling) entered a plea Tuesday. The judge was questioning him before deciding whether to accept it.

Prosecutors said previously that they expected Friehling to plead guilty to securities fraud and other charges that are punishable by up to 108 years in prison. However, substantial cooperation can result in leniency.

Prosecutors said Friehling would have known that Madoff was carrying out history’s biggest Ponzi scheme — because he kept the books.