Bloomberg News

Ex-Madoff Employee Eric Lipkin to Plead Guilty, Lawyer Says

June 06, 2011

(Updates with lawyer’s name in second paragraph.)

June 6 (Bloomberg) -- Former Bernard Madoff employee Eric Lipkin will plead guilty to federal criminal charges stemming from the biggest Ponzi scheme in U.S. history, his lawyer said.

Attorney James Filan told the judge of his client’s wishes today in Manhattan federal court. Lipkin’s agreement to admit to six separate crimes was announced last week by federal prosecutors in a letter to U.S. District Judge Laura Taylor Swain, who is presiding over the case.

Lipkin, 37, faces as long as 70 years in prison. Madoff is serving a 150-year sentence in a federal prison in North Carolina.

Five former Madoff employees have been charged by Manhattan U.S. Attorney Preet Bharara’s office in the case and are awaiting trial before Swain in connection with the money manager’s multibillion-dollar fraud. All have pleaded not guilty.

Annette Bongiorno, who recruited investors and helped run Madoff’s investment advisory office, and Joann Crupi, of Westfield, New Jersey, were arrested and charged by the U.S. in November.

The U.S. previously charged Daniel Bonventre, Madoff’s ex- operations chief, and Jerome O’Hara and George Perez, both former programmers who worked at Madoff’s investment business. No trial date has been set.

The case is U.S. v. Lipkin, 10-CR-228, U.S. District Court, Southern District of New York (Manhattan).

--Editors: Andrew Dunn, Stephen Farr

To contact the reporter on this story: Bob Van Voris in Manhattan federal court at rvanvoris@bloomberg.net.

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net.


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