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Within the November 2009, David Grams. Friehling, Madoff’s bookkeeping front kid and auditor, pleaded responsible to bonds fraud, financing adviser con, and make untrue filings to the SEC, and you will obstructing the interior Cash Provider. On the February several, 2009, Madoff pleaded accountable to eleven federal felonies, in addition to securities fraud, cord scam, mail scam, money laundering, to make incorrect statements, perjury, thieves of a worker work for plan, and you can to make untrue filings on the SEC. Erin Arvedlund, just who in public places requested Madoff’s said funding results inside the 2001, reported that the genuine quantity of the fresh con might not recognized, but is actually probably between $12 and you may $20 billion. One to difference in the brand new quotes comes from different ways out of computation. Previous SEC Chairman Harvey Pitt projected the actual net fraud to be anywhere between $ten and you will $17 billion.

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