Former Longtime Madoff Trader Cops To Fraud Charges

Law360, New York (November 16, 2011, 11:11 PM EST) -- A longtime Bernard L. Madoff Investment Securities LLC trader will plead guilty to charges of participating in the $65 billion Ponzi scheme, government lawyers said in a letter sent Wednesday to a New York federal judge.

In a letter to U.S. District Judge Laura Taylor Swain, federal prosecutors said David L. Kugel, a former supervisory trader in the firm, would plead guilty to six charges of conspiracy to commit securities and bank fraud, falsifying books and records to brokers and investment advisers, and fraud at a...
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