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Inside the November 2009, David G. Friehling, Madoff’s bookkeeping front side son and auditor, pleaded bad in order to ties con, financing adviser fraud, and make not the case filings on the SEC, and you will obstructing the interior Revenue Services. To the February twelve, 2009, Madoff pleaded responsible to help you 11 government felonies, and securities scam, cord fraud, send con, currency laundering, and then make not the case comments, perjury, theft from an employee work for package, and to make incorrect filings on the SEC. Erin Arvedlund, who in public questioned Madoff’s advertised investment results within the 2001, stated that the real number of the brand new ripoff you’ll not be identified, but is actually likely ranging from $twelve and you may $20 billion. One to difference in the new rates comes from different ways from formula. Previous SEC Chairman Harvey Pitt estimated the genuine online con so you can become anywhere between $10 and you may $17 billion.

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