The only non-family member to own a stake in Bernard Madoff's company pleaded guilty to falsifying books and records Tuesday.
Paul Konigsberg, a tax lawyer and accountant, provided services to Madoff and a number of Madoff's clients. Now, he faces up to 30 years in prison.
Beginning at least in the early 1990s, Madoff steered several of his investors to Konigsberg, including long-time clients in whose accounts Madoff "executed the most glaringly fraudulent transactions," said a press release issued by the Manhattan U.S. Attorney Preet Bharara.
Konigsberg, 78, has agreed to cooperate with the government in its ongoing investigation of the fraud that occurred at Madoff Securities. The firm collapsed after Madoff was arrested in 2008 and pleaded guilty for running a Ponzi scheme that netted billions of dollars from thousands of victims.