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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Madoff's Former Accountant Arrested in Connection to Ponzi Scheme

Sep 26, 2013
Jing Chen

Bernard Madoff’s former accountant has been charged with conspiracy and falsifying records.

Reuters reported that Paul Konigsberg, who was arrested Thursday, has pleaded not guilty to allegations that he helped Madoff defraud thousands of investors in the Ponzi scheme. He has been freed on $2 million bond with restricted travel.

Konigsberg is the 15th person to be criminally charged over the fraud centered at Bernard L. Madoff Investment Securities LLC. The trustee liquidating the firm has estimated that investors lost about $17.3 billion of principal.

The five-year statute of limitations for the scheme expires in three months.

Arrested in December 2008 and pled guilty three months later, Madoff is currently serving a 150-year prison term.

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