The Securities and Exchange Commission has barred three former employees of Bernard Madoff’s now defunct brokerage and investment advisory firm from the securities industry for assisting the convicted Ponzi schemer with his multi-billion dollar scam, according to orders from the agency. The SEC released orders late Thursday permanently barring David Kugel, Eric Lipkin and Enrica Cotellessa-Pitz. The three former employees of Bernard L. Madoff Investment Securities LLC each agreed to the sanction to settle civil proceedings started by the agency in 2011. More in the Chicago Tribune here.
