A former associate of Bernard Madoff avoided prison on Thursday for his role in perpetuating the fraudster’s massive Ponzi scheme because of his extensive cooperation with prosecutors.
Reuters reports that Paul Konigsberg, 79, a lawyer and accounting firm executive, pleaded guilty in June 2014 to charges of conspiracy and falsifying books and records.
At the time, his cooperation deal was seen as a signal that prosecutors were still pursuing a criminal case against Madoff's son, Andrew, who died of cancer three months later.
U.S. District Judge Laura Taylor Swain in New York, citing an otherwise admirable life, said Konigsberg had been punished enough by the loss of his reputation.
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Ex-accounting executive avoids prison in Madoff fraud case
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