As the investigation on the Madoff scandal is still ongoing, those affected by the scheme has turned their eyes not on Bernard Madoff but on their auditing firms. FairField Greenwich Corp, which is the most affected firm currently known, sued its auditing firm PriceWaterhouseCoopers for the latter’s failure to detect the alleged fraud. The New York Law School, meanwhile, is seeking legal action against Ascot Partners LP and its officials over the investment with the Madoff firm. Such actions show the immense effect of the alleged Ponzi scheme run by Bernard Madoff. It’s only ridiculous that the scheme has been discovered just now, almost ten years since it was started by the Madoff.

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Posted by Jones on January 4th, 2009 :: Filed under Uncategorized
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