Former Madoff employee pleads guilty to decades of fraud

Irwin Lipkin admitted to falsifying records as a former controller of Madoff’s

A longtime employee of Bernard L. Madoff Investment Securities LLC has pleaded guilty to falsifying records over the course of decades.

Irwin Lipkin told a court yesterday that he had fudged the books several times over the years, but had no knowledge of the extent of Bernie Madoff’s massive Ponzi scheme. Prosecutors estimate the scheme that grew into a multibillion-dollar fraudulent operation began in the 1970s. Lipkin began working for Madoff in 1964 and was the first member of the firm who was not a relative of Madoff.


Cathleen Flahardy

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