Contributing to Madoff’s facade was the existence of legitimate businesses alongside the fraudulent one at his firm, Bernard L. Madoff Investment Securities LLC. Madoff pleaded guilty in March 2009 to fraud, money laundering, perjury and theft. Prosecutors said the fraud began in the 1980s, if not earlier. Konigsberg also avoided prison, agreeing to forfeit US$4.4 million of commissions his firm received for Madoff clients. They fought me every step of the way.”When, exactly, Madoff began cooking the books was the subject of dispute.

Source: The Edge Markets April 14, 2021 15:00 UTC