Madoff's former accountant arrested over $65bn Ponzi scheme

clock

A former accountant for Bernard Madoff was arrested on Thursday, nearly five years after the fraudster's huge Ponzi scheme was uncovered, an FBI spokesman said.

Paul Konigsberg, an accountant and former senior tax partner at Konigsberg Wolf & Co in New York, is the 15th person to be charged over the fraud, the Guardian reports. Madoff, 75, (pictured) was arrested on 12 December 2008 and is serving a 150-year sentence. The trustee liquidating Madoff's New York investment firm has said customers lost about $17.3bn (£10.7bn). Konigsberg's arrest comes less than two weeks before the expected trial of five former Madoff employees accused of aiding the fraud. According to court papers, Konigsberg was a close associate of Madoff's and helped him ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Darius McDermott: Defence in a fragmented world

Darius McDermott: Defence in a fragmented world

'It is clear that the world has changed and government spending is being redeployed'

Darius McDermott
clock 01 May 2026 • 4 min read
Canaccord Wealth launches crypto exposure offering to high-net-worth clients

Canaccord Wealth launches crypto exposure offering to high-net-worth clients

For risk profile 7+ portfolios

clock 29 April 2026 • 1 min read
RBC Brewin Dolphin adds to Voyager range with passive funds

RBC Brewin Dolphin adds to Voyager range with passive funds

With six risk options

Patrick Brusnahan
clock 27 April 2026 • 1 min read