(31 Mar 2009) HEADLINE: Prosecutors charge Madoff accountant with fraud
CAPTION: Bernard Madoff's longtime accountant was arrested on fraud charges Wednesday, accused of aiding the man who has admitted cheating thousands of investors out of billions of dollars in the past two decades. (March 18)
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Now that Bernard Madoff (MAY'-dawf) is behind bars, federal authorities are turning their attention to those who they believe helped him bilk thousands of investors.
Today they arrested Madoff's longtime accountant on fraud charges.
Forty-nine-year-old David Friehling (FREE'-ling) is accused of helping Madoff cheat nearly 5,000 investors out of billions of dollars in the past two decades.
Friehling is the first person to be arrested since the Madoff scandal broke in December.
Friehling ran an accounting office in a nondescript suburban building north of New York City. Experts say it would be preposterous for such a tiny firm to properly audit an operation the size of Madoff's.
Friehling is charged with securities fraud, aiding and abetting investment adviser fraud and filing false audit reports with the U.S. Securities and Exchange Commission.

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