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Others probed in Madoff scam

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Published: July 1, 2009 at 8:54 PM
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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.

Topics: Bernard Madoff
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