Madoff employee to plead guilty in New York

Bernard Madoff, chairman of Madoff Investment Securities, returns to his Manhattan apartment after making a court appearance Wednesday, Dec. 17, 2008 in New York. (AP Photo/Jason DeCrow)

September 13, 2012 5:08:40 AM PDT
Federal prosecutors say one of Wall Street swindler Bernard Madoff's former controllers will plead guilty in New York to conspiracy charges in history's largest Ponzi scheme.

Prosecutors said in a letter to a judge late Tuesday that Irwin Lipkin will plead guilty at a court appearance Thursday.

The letter says the charges include a conspiracy to falsify records in a fraud that started in the early 1970s and ran through December 2008. The charges carry a potential penalty of 10 years in prison.

Lipkin was a controller at Madoff's firm. His lawyer didn't immediately return a call seeking comment Wednesday.

Madoff pleaded guilty in 2009 to stealing billions through the fraud and says he acted alone. He's serving a 150-year prison sentence in Butner, N.C.

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