Marcum & Kliegman LLP forms Madoff task force | AccountingWEB

Marcum & Kliegman LLP forms Madoff task force

Marcum & Kliegman LLP has announced that it has formed a task force to advise investors who may have been defrauded by Bernard L. Madoff and his investment business, Bernard L. Madoff Investment Securities LLC. Marcum & Kliegman's task force will focus on the tax and accounting as well as the non-tax issues facing those who invested with Madoff and his firm.

"Investors and their advisers are in uncharted territory," states Jeffrey M. Weiner, Managing Partner of Marcum & Kliegman. "We have asked Michael Greenwald, partner-in charge of tax services in our New York City office, to take the lead on this matter. Michael and his group will be evaluating tax law and prior rulings in this area to determine the appropriate tax treatment of losses incurred with respect to the Madoff case. More importantly, we will be working with our clients, their legal counsel, and others as these cases progress to fully document the extent of the financial fraud."

Bernard Madoff has been charged with securities fraud by U.S. prosecutors, and the U.S. Securities and Exchange Commission has filed separate civil charges. Other state and local law enforcement and regulatory agencies are pursuing investigations as well. Additionally, numerous private lawsuits have also been filed. Anyone with questions or concerns regarding this matter may contact Marcum & Kliegman Partner Michael Greenwald directly at 212.981.3182 or via e-mail.

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