Wednesday, July 1, 2009

More heads may roll over Madoff scam

NEW YORK -- A person familiar with the investigation into disgraced financier Bernard Madoff (MAY'-dawf) says at least 10 more people are likely to be charged by the time the probe is complete.

The person tells The Associated Press they will face federal charges over the next few months. The person spoke on condition of anonymity because the investigation is ongoing.

Madoff was sentenced Monday to 150 years in prison for a multibillion-dollar fraud that burned thousands of investors.

The person familiar with the probe wouldn't detail the likely charges against the others or say whether they would include Madoff's relatives or former employees.

The only other person charged in the case is Madoff's longtime accountant, who was accused of failing to make basic auditing checks and was arrested in March. - AP

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