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Within the November 2009, David G. Friehling, Madoff’s accounting top kid and you will auditor, pleaded accountable to ties scam, investment agent scam, and then make incorrect filings on the SEC, and you can obstructing the inner Money Services. To your February several, 2009, Madoff pleaded guilty to help you 11 government felonies, and bonds ripoff, wire con, post con, currency laundering, to make untrue statements, perjury, thieves out of a worker work for plan, and you may making not true filings to the SEC. Erin Arvedlund, whom in public places requested Madoff’s said financing performance in the 2001, reported that the true level of the fresh scam you’ll never be recognized, however, is probably ranging from $a dozen and you will $20 billion. You to definitely difference in the fresh rates comes from different methods of formula. Former SEC President Harvey Pitt estimated the real web ripoff in order to become ranging from $10 and you may $17 billion.

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