Bernie Madoff’s Former Accountant Pleads Guilty

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Bernie Madoff’s Former Accountant Pleads Guilty

Bernie Madoff’s former accountant, Paul Konigsberg, pleaded guilty last week to conspiracy and falsifying records during Madoff’s $20 billion Ponzi scheme. Konigsberg pleaded guilty to one count of conspiracy and two counts of falsifying records before U.S. District Judge Laura Taylor Swain. Konigsberg, 78, a former partner at Konigsberg Wolf & Co., admitted being present when Madoff and his assistant cooked the books.

The SEC sued Konigsberg, of Greenwich, Connecticut, in Federal Court last September, accusing him of doctoring records for a monthly fee of up to $20,000. Federal prosecutors then filed a parallel criminal charge against Konigsberg in the same court, accusing him of aiding and abetting the falsification of books from 1992 through 2008.

Konigsberg was arrested last September. Initially, he pleaded not guilty, claiming he was a victim of Madoff’s lies. He decided to plead guilty after five former Madoff employees were criminally convicted in March. They face sentencing in July. The SEC described Konigsberg as a “longtime accountant for several wealth investment advisory clients of Bernard L. Madoff Investment Securities LLC.” Konigsberg faces up to 30 years in prison and at least a $4.4 million in restitution.

Madoff’s scheme destructed in December 2008 when investors tried to get their money back as the economy tanked. Madoff is serving a 150-year sentence.

If you or someone you know has lost money as a result of an investment or Ponzi scheme, please contact Richard Frankowski at 888-741-7503 to discuss your potential legal remedies.

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