The SEC today charged Bernard Madoff’s CFO, Frank DiPascali, with securities fraud. The SEC alleges that DiPascali oversaw the mechanics of Madoff’s entirely fictitious investment strategy and created “millions of phony documents and trading records to conceal the fraud from regulators and investors.”
Full details of what SEC Enforcement Director Robert Khuzami called “an extraordinary and massive counterfeiting operation” are available in this post on my Enforcement Action blog over at Compliance Week.
