Madoff Auditors Won't Contest SEC Charges

Date: Thursday, November 5, 2009

The auditors for Bernard Madoff have agreed not to contest charges brought by the Securities and Exchange Commission that they enabled fraud by the now-jailed Ponzi scheme investor. According to the SEC, the auditors, David Friehling and accounting firm Friehling & Horowitz, consented to a proposed partial summary judgment imposing permanent injunctions against them after being charged with falsely stating they had audited Madoff's financial statements in accordance with relevant accounting and auditing standards.