Others probed in Madoff scam

Published: July 1, 2009 at 8:54 PM

NEW YORK, July 1 (UPI) -- The investigation that felled New York investment adviser Bernard Madoff didn't end with his sentencing to 150 years in prison, an official says.

Financial Times reported Wednesday investigators are examining the roles at least 10 other people had in the $65 billion "Ponzi" investment fraud perpetrated by Madoff. That probe will likely lead to more criminal charges, an official briefed on the situation told the British financial newspaper.

''We anticipate that it will be a long investigation and it could be months or more before we are done with this,'' the unidentified source said. ''The expectation is that there will ultimately be at least 10 additional people who will likely be charged.''

The official said investigators have issued dozens of subpoenas and conducted hundreds of interviews thus far. The FBI and federal prosecutors are spearheading the investigation.

Madoff says he bears sole responsibility for the decades-long fraud that left thousands of victims worldwide.

However, Madoff's long-time accountant, David Friehling, has been charged with falsely certifying that he audited Madoff's firm and with enabling the investment fraud. He maintains he is innocent.

© 2009 United Press International, Inc. All Rights Reserved.
Order reprints



Additional News Stories
Your Daily Horoscope (57 min)
The almanac
How to avoid Thanksgiving food poisoning
Secondhand smoke worse for toddlers
Some women may lack vitamin A
NHL: Chicago 1, Vancouver 0
Real Salt Lake wins shootout, MLS title
fark
If you and a passenger crashed into a river near Tacoma, rescue crews hope to find you and puyallup...
The origin of species found in British toilet. The book, that is
58-year old Chesley "Sully" Sullenburger says that his heroic landing of a jet in the Hudson river...
Atlantis astronaut celebrates the birth of his daughter 220 miles below on Earth, will never hear...
How do you take a not-so-serious crime to the next level? Gesture to the judge that you're going...
Can there rreally be too many places to buy beer in one city?