Ex-Madoff Trader Kugel Admits to Creating Records of Fake Trades
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A former trader at Bernard Madoff’s investment firm admitted in federal court in New York to creating fake, backdated trades in a fraud scheme that began more than 30 years ago.
During his plea hearing yesterday, David Kugel, a former supervisory trader in the proprietary trading operation of Bernard L. Madoff Investment Securities LLC, also known as BLMIS, implicated two other former Madoff employees, Joann Crupi and Annette Bongiorno.