One of Bernard Madoff's longest-serving employees is
expected to plead guilty to criminal charges in the multibillion-dollar Ponzi
scheme, U.S. prosecutors told Reuters, the latest among a dozen former
employees to face charges. Irwin Lipkin,
a former controller of Bernard L. Madoff Investment Securities LLC, will appear
in Manhattan federal court on Thursday, prosecutors said in a letter to the
judge.
He will plead guilty to charges of conspiracy to commit
securities fraud and falsifying documents, prosecutors told U.S. District Judge
Laura Taylor Swain in the letter, which was dated Tuesday, September 11. The
charges carry a maximum possible prison term of 10 years. The letter said Lipkin, 74, created
"false financial records that were provided to BLMIS investors,"
false filings with the U.S. Securities and Exchange Commission and false
statements required under a federal law that sets standards for pension plans.
Irwin Lipkin joined Madoff's firm in 1964, according to
court records. Court papers showed that he continued to draw a salary from the
firm even after he stopped working there in 1999...
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