(Bloomberg) Bernard Madoff’s fraud might have been detected with enough due diligence in mid-2006, more than two years before the Ponzi scheme collapsed, a U.S. Tax Court judge ruled.

That means it’s possible, Judge Diane Kroupa said, that the estate of a New York man who died that year is entitled to a $1.9 million refund for death taxes paid on his $4.8 million Madoff account—an account revealed to be worthless after the fraud was uncovered.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access