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Accounting firms drawn into Madoff scandal

Top accounting firms were hoodwinked by Bernard Madoff’s alleged $50bn fraud as well as several top banks and some of the world’s biggest hedge fund investors, according to lists of service providers to Madoff-linked funds. PwC, KPMG and Ernst & Young, three of the “big four” accountants, and an arm of BDO International, the fifth largest, were all auditors of the feeder funds which channelled money into accounts at Madoff’s New York brokerage.

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