Ex-Madoff Admin Forfeits $2M, Admits Fudging Tax Records

Law360, New York (June 5, 2012, 8:32 PM EDT) -- A former Bernard L. Madoff Investment Securities LLC administrative employee on Tuesday agreed to forfeit $2.3 million and pled guilty to federal conspiracy and income tax-related charges stemming from his handling of employee records of people on the BLMIS payroll who did not work for the firm.

Craig Kugel, who was tasked with budget forecasting for BLMIS’s market making and proprietary trading operations, in which his father David Kugel had been a trader, faces a maximum of 19 years in prison over three counts of income...
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