Bernard Madoff’s Accountant Friehling Pleads Guilty

According to Bloomberg, David Friehling, the accountant for Bernard Madoff, pleaded guilty for his role in the largest U.S. Ponzi scheme and said he helped Madoff and “others” prepare phony tax returns.

Friehling entered his plea on Nov. 3 in Manhattan federal court. He has also reached an agreement with the government and is helping prosecutors with their probe. Friehling becomes the third person to plead guilty in the multi-billion dollar fraud. Madoff is serving 150 years in prison and aide Frank DiPascali is in jail awaiting sentencing.

Friehling pleaded guilty to nine criminal counts including securities fraud, investment adviser fraud, and three counts of obstructing tax law administration. In detailing the tax counts, he said he helped Madoff and others prepare false tax returns.