SEC charges Madoff employee with fraud

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Bernard Madoff

The US Securities and Exchange Commission (SEC) has charged Eric Lipkin, a former employee of Bernard Madoff Investment Securities (BMIS), with helping Madoff and his firm operate the large Ponzi scheme that defrauded hundreds of investors and deceived regulators for decades.

The SEC alleges Lipkin processed payroll records for ‘no-show’ employees and assisted Madoff in producing false accounting statements. It is also alleged he was complicit in producing the fictitious investment strategy of B

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