Madoff's auditor pleads guilty to fraud

Bernard Madoff’s auditor pleaded guilty to fraud charges today, admitting failing to verify the disgraced money manager’s financial records.

David Friehling, 49, entered the plea in US District Court in Manhattan, apologising to the thousands of victims who lost billions of dollars while he audited Madoff’s financial records between 1991 and 2008. The plea was part of a co-operation deal with prosecutors.