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David G. Friehling, the sole practicing accountant at Friehling & Horowitz, surrendered yesterday morning on charges of securities fraud, aiding and abetting investment advisor fraud and four counts of filing false audit reports with the SEC, which filed a companion civil suit. According to the SEC complaint, Mr. Friehling was paid $12,000 to $14,000 a month between 2004 and 2007 for creating the Madoff investment service's certified and audited financial statements, and he and his family had withdrawn more than $5 million from Bernard L. Madoff Investment Securities LLC accounts since 2000.
March 19, 2009 at 12:00 AM
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