BUSINESS BRIEFING
Disgraced financier Bernard L. Madoff’s longtime auditor is expected to plead guilty next week in a cooperation deal, federal prosecutors told a judge in New York.
Prosecutors said in a letter to U.S. District Judge Alvin K. Hellerstein that accountant David Friehling was expected to plead guilty Tuesday.
They said Friehling would enter the plea to revised charges that accuse him of securities fraud, investment advisor fraud, making false filings with the Securities and Exchange Commission and obstructing or impeding the administration of the Internal Revenue laws.
The charges carry a potential prison term of up to 108 years in prison, although substantial cooperation with prosecutors can result in leniency.
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