A former Bernard Madoff trader who helped create fake securities data to trick customers avoided a prison sentence, the third ex-worker to do so after assisting in the prosecution of former colleagues.
David Kugel, who worked in the brokerage operation of Madoff’s New York-based firm for almost four decades, was given 10 months’ home detention and ordered to perform 200 hours of community service. He had faced as long as 85 years behind bars for his role in the con man’s $17.5 billion Ponzi scheme.
‘Enforcement 40’ for 2020
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