U.S. Attorney Preet Bharara said in a letter to a judge Wednesday that David Kugel will plead guilty at a court appearance scheduled for Monday. The letter says the charges include a conspiracy that started in the early 1970s and ran through December 2008.
Kugel was a supervisory trader at Madoff's firm. A call to his attorney seeking comment has not been returned.
Madoff used money from new investors to pay returns to existing clients. He pleaded guilty to fraud and is serving a 150-year prison sentence in Butner, N.C. He claims he acted alone.
