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Within the November 2009, David Grams. Friehling, Madoff’s bookkeeping front side boy and you may auditor, pleaded guilty so you can ties con, investment adviser ripoff, to make not the case filings for the SEC, and obstructing the inner Cash Service. For the February several, 2009, Madoff pleaded bad so you can eleven federal felonies, and securities scam, wire ripoff, post con, money laundering, to make not the case comments, perjury, thieves away from an employee work with plan, and you will and then make incorrect filings on the SEC. Erin Arvedlund, who in public asked Madoff’s stated funding efficiency in the 2001, reported that the genuine number of the fresh con might not be understood, however, is actually most likely anywhere between $twelve and you will $20 billion. You to difference between the new estimates is a result of various methods out of formula. Previous SEC President Harvey Pitt projected the real web scam to getting between $10 and $17 billion.

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