Long-time Madoff employee charged with fraud

House of cards

The US Securities and Exchange Commission (SEC) has charged Madoff employee David Kugel, who worked at Bernard L. Madoff Investment Securities (BMIS) for nearly 40 years, with fraud for his role in the $65 billion Ponzi scheme.

In the November 21 complaint, the SEC alleges that "from the early 1970s to 2008, Kugel knowingly participated in the creation of false account statements supplied to BMIS's clients", "helped create fictional trades" and "aided and abetted the fraud that Madoff

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: