Auditor David Friehling has pleaded guilty to securities fraud and filing false audit reports in his role in the Madoff fraud, the Financial Times reports. He is looking at up to 114 years prison, but is co-operating with the authorities in the hope of leniency.

“At no time was I aware that Mr Madoff was engaged in a Ponzi scheme,” Mr Friehling told the Manhattan federal court, according to Reuters. “I never had contact with investors and never acted as a feeder to investors.”

Friehling & Horowitz CPA, Mr Friehling’s business, were the auditors for Mr Madoff’s business from 1991 to 2008. Mr Friehling was paid between $12,000 and $14,500 a month for the last three of those years, according to information filed by prosecutors, who said there was no evidence he had conducted a “meaningful audit,” although he signed off the annual accounts.

Mr Friehling has forfeited all the compensation he received - $3.2 million - and his interest in property in New York and a Florida resort.