Bernie Madoff asked at least some of his clients to have a small accounting firm in Fort Lee, New Jersey called Sosnik Bell handle their paperwork, a self-proclaimed Madoff victim tells us.
According to this tipster, whose identity we have not verified, clients of Madoff paid Sosnik Bell — founded by Scott Sosnik — to handle the Madoff portion of their paperwork, which would then forwarded to their normal accountants.
The Sosnik Bell fee, which our tipster said came to around $700, matches the $725 annual fee found on the tax return embedded below from the non-profit Aaron Foundation, which was also a Madoff client. See page 15 for the fee paid to Sosnik. And here’s a return from the Charles and Candice Nadler Foundation, which also invested with Madoff and had accounting done by Sosnik.
By all appearances, Sosnik Bell seems to be another tiny firm that should be too small for a firm like Madoff’s to deal with. There’s no web site and little info about Scott Sosnik himself. There’s an inspirational quote from him here on this University of Maryland Alumni site.
Calls to the firm were initially sent to voicemail. We were just hung up on when we called back. If any other Madoff victims were asked to hire Sosnik, please let us know. ([email protected], 866-994-TIPS). More as we get it.
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