You know what has got to suck? When you decide to start charging stuff that doesn’t fall under “business expenses” to your corporate card and engage in a few other amateur hours scams that probably would have gone unnoticed (or, if discovered, not taken to the authorities because the boss had high tolerance for fraud) but then they are because the CEO of your firm had to go and engage in the largest Ponzi scheme on record, which shone an uncomfortable light on company personnel and all of the cheese, popcorn, and salsa of the month clubs you joined (for example).  Craig Kugel knows what we’re talking about.

The son of a longtime trader for convicted Ponzi scheme operator Bernard Madoff pleaded guilty to conspiracy and other criminal charges Tuesday, but denied any involvement in the decades-long fraud. Craig Kugel, the son of David L. Kugel, a former supervisory trader in Madoff’s proprietary-trading operation, admitted to filing false forms that claimed people were on the Madoff payroll when they didn’t actually work for the firm and to not declaring as income personal expenses charged to the firm’s corporate credit card. Those individuals were paid salary and benefits, but weren’t actual employees, he said. “I am sorry for my lapses in judgment in committing these federal crimes, but I want to make clear I had nothing to do with the Madoff Ponzi scheme and I was never involved in the Madoff trading operation,” Craig Kugel said at a hearing before U.S. District Judge Laura Taylor Swain in Manhattan.

Ex-Madoff Employee Pleads Guilty to Conspiracy [WSJ]

50 comments (hidden for your protection)
Show all comments ↓

Comments (50)

  1. Posted by Guest | June 5, 2012 at 7:13 PM

    No show financial sector jobs the NKI!

  2. Posted by guest | June 5, 2012 at 8:54 PM

    Multiple thumbs down for you.

  3. Posted by Puck It | June 5, 2012 at 8:55 PM

    Fucking amateur

    — Berns

  4. Posted by Beast from the east | June 5, 2012 at 9:36 PM

    So a scam within a scam is the NKI?

  5. Posted by lolwut | June 6, 2012 at 7:29 AM

    Must create new xzibit meme.

  6. Posted by Alpha_Bets | June 6, 2012 at 12:19 PM

    At least Bernie had legitimate years.

  7. Posted by trader | June 7, 2012 at 12:00 PM

    Kugel squared, in happier fraudulent times:
    http://www.tradersmagazine.com/photos/2003_10909/

  8. Posted by crork | September 9, 2012 at 9:21 PM

    Qvny9w Very good article post.Really looking forward to read more. Will read on…

  9. Posted by crork | September 10, 2012 at 4:16 AM

    n2r8rZ Major thankies for the blog.Much thanks again. Keep writing.

  10. Posted by Commission loophole | September 11, 2012 at 12:56 PM

    Major thanks for the blog article.Really looking forward to read more. Want more.

  11. Posted by Sexkontakte | September 12, 2012 at 1:35 AM

    Thanks so much for the post. Awesome.

  12. Posted by Web Designer in Michigan | September 12, 2012 at 7:03 AM

    Thanks for the blog post.Really looking forward to read more. Cool.

  13. Posted by bird removal | September 12, 2012 at 10:25 AM

    I really liked your article.Thanks Again. Want more.

  14. Posted by Comprar Kindle Fire | September 12, 2012 at 4:15 PM

    Hey, thanks for the article.Much thanks again. Great.

  15. Posted by Whats A Torrent | September 12, 2012 at 10:15 PM

    I cannot thank you enough for the blog article.Much thanks again.

  16. Posted by kansas city plumber | September 13, 2012 at 11:19 AM

    Muchos Gracias for your blog post.Much thanks again. Great.

  17. Posted by www.pastliferevealed.com | September 14, 2012 at 6:26 AM

    I really liked your article.Much thanks again. Will read on…

  18. Posted by embroidery | September 14, 2012 at 7:42 AM

    A big thank you for your post.Thanks Again. Cool.

  19. Posted by for more info go here | September 14, 2012 at 10:14 AM

    Thanks for the blog post.

  20. Posted by Fans and followers to kickstart your social media campaign! | September 14, 2012 at 10:55 AM

    Hey, thanks for the blog.Really thank you! Fantastic.

  21. Posted by diamants | September 14, 2012 at 4:05 PM

    wow, awesome blog article.Thanks Again. Want more.

  22. Posted by Meditation, Surrey, BC | September 15, 2012 at 6:24 AM

    Fantastic blog article. Great.

  23. Posted by Buy Nopalea juice | September 16, 2012 at 6:03 AM

    I really like and appreciate your blog article.Much thanks again. Really Great.

  24. Posted by rent inflatable slides | September 17, 2012 at 10:19 AM

    I am so grateful for your article.Much thanks again. Really Cool.

  25. Posted by Healthy Lifestyles | September 17, 2012 at 6:25 PM

    Enjoyed every bit of your article post.Really looking forward to read more. Really Cool.

  26. Posted by Actor | September 18, 2012 at 5:55 AM

    A round of applause for your article post.

  27. Posted by hgh supplement | September 18, 2012 at 7:40 AM

    I really liked your article.Really looking forward to read more. Fantastic.

  28. Posted by free games like runescape | September 18, 2012 at 2:47 PM

    I really liked your post.Thanks Again. Cool.

  29. Posted by pws ua bgalw lefta | September 19, 2012 at 6:39 AM

    I am so grateful for your article post.Really looking forward to read more.

  30. Posted by last longer in bed pills | September 19, 2012 at 8:52 AM

    I value the article.Really thank you! Really Cool.

  31. Posted by louis vuitton jeans | September 19, 2012 at 11:53 AM

    Thanks for the post.Much thanks again. Will read on…

  32. Posted by anaheim wedding DJ | September 19, 2012 at 4:45 PM

    Wow, great post. Cool.

  33. Posted by magic of making up | September 20, 2012 at 10:39 AM

    Appreciate you sharing, great article post.Thanks Again. Cool.

  34. Posted by Buy Instagram Likes | September 21, 2012 at 6:42 PM

    Thanks a lot for the blog article.Much thanks again. Keep writing.

  35. Posted by restaurant in utah | September 21, 2012 at 10:35 PM

    This is one awesome article post. Keep writing.

  36. Posted by roomplus | September 22, 2012 at 1:30 PM

    wow, awesome blog. Keep writing.

  37. Posted by pruefung ortsveraenderlicher geraete | September 22, 2012 at 8:55 PM

    Great article post. Awesome.

  38. Posted by dropship | September 23, 2012 at 9:49 AM

    Hey, thanks for the blog article. Much obliged.

  39. Posted by karité | September 23, 2012 at 1:31 PM

    Very informative article post.Really thank you! Really Cool.

  40. Posted by massage sensuel | September 23, 2012 at 3:22 PM

    Enjoyed every bit of your article post.Really looking forward to read more. Awesome.

  41. Posted by search all porn | September 24, 2012 at 12:44 AM

    Hey, thanks for the blog article.Much thanks again. Great.

  42. Posted by numerology reading | September 24, 2012 at 6:21 AM

    I really enjoy the article post.

  43. Posted by buy phen375 | September 25, 2012 at 2:31 PM

    This is one awesome blog article.Really looking forward to read more. Really Great.

  44. Posted by the power of conversational hypnosis | September 25, 2012 at 8:24 PM

    Thank you for your post.Really looking forward to read more.

  45. Posted by read review | September 26, 2012 at 12:46 AM

    I cannot thank you enough for the blog.Thanks Again. Fantastic.

  46. Posted by auto glass repair | September 26, 2012 at 5:37 AM

    Thanks for sharing, this is a fantastic post.Thanks Again. Will read on…

  47. Posted by Cambridge | September 26, 2012 at 10:51 AM

    Great, thanks for sharing this article.Really looking forward to read more. Will read on…

  48. Posted by Peter Francis-Macrae | September 26, 2012 at 6:26 PM

    Thanks again for the post.Really thank you! Will read on…

  49. Posted by Know More on African Mango | September 27, 2012 at 2:19 AM

    I wanted to put you the very little observation to help thank you so much the moment again for your personal incredible tips you have documented on this page. It was shockingly generous of people like you giving unhampered all many of us might have marketed as an e book to earn some cash on their own, even more so since you might have tried it if you ever wanted. These tricks likewise worked to be a easy way to fully grasp that other individuals have a similar fervor just like my very own to know a whole lot more pertaining to this issue. I believe there are thousands of more pleasant sessions in the future for individuals who read carefully your blog.

  50. Posted by icon library | October 4, 2012 at 11:56 PM