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Friday
Jun032011

Former Madoff Employee Expected to Plead Guilty

Mario Tama/Getty Images(NEW YORK) -- A former employee of Ponzi schemer Bernard Madoff is expected to plead guilty Monday to charges in connection to his boss' investment scam, according to court documents released Thursday.

Eric S. Lipkin's plea is part of a "cooperation agreement with the government," the court filing said.  He is charged with six counts of crimes, including bank fraud, falsifying records and making false statements to facilitate a theft.

If given the maximum penalty, the 37-year-old could face 70 years in prison.

Copyright 2011 ABC News Radio

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