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Bharara Adds Another Notch As Madoff’s Controller Pleads Guilty to Four Counts

Beginning in the late 1990s until the collapse of BLMIS in 2008, Cotellessa-Pitz and other conspirators created false and misleading entries in the books and records of BLMIS and in reports filed with the SEC – purportedly as part of a scheme to disguise transfers of funds from the BLMIS Investment Advisory (“IA”) business to BLMIS’s Market Making and Proprietary Trading (“MMPT”) operations. As a result of the transfers, MMPT appeared more profitable than would otherwise have been the case. Read more on Forbes here.

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