The New Jersey Accountant Mystery Deepens

We’ve been trying to figure out how and why so many Madoff clients ended up with the small New Jersey accounting firm Sosnik, Bell & Co. What was it about them that prompted those close to Madoff, like Bob Jaffe, to recommend them as the most able to handle Madoff’s “complex” trades?

A tipster informs us that Sosnik, Bell actually outsourced their Madoff work to a third party. We haven’t confirmed this, but it seems plausible. The answer to the question — to whom were they outsourcing their work? — would be revealing.

Meanwhile, a call to the New Jersey State Board of Accountancy confirms that Scott Sosnik is a registered CPA in good standing, but the person we talked to had no record of Larry Bell or a Lawrence Bell. This may simply be a clerical error.

We’ve reached out to Sosnik Bell on this latest news and have yet to hear back

If you have more on this or any other angle, please email: [email protected], leave a voicemail: 866-994-TIPS, or FAX us at 212-929-4607.

See Also:
Sosnik Bell: Known Knowns And Known Unknowns

 

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.