Paul Konigsberg, a long-time former accountant to Bernard Madoff, was indicted Thursday for allegedly keeping false books that helped the convicted Ponzi-scheme operator cover up the fraud for decades.

Mr. Konigsberg, 77 years old, was arrested at 6 a.m. by agents from the Federal Bureau of Investigation, nearly five years after the Madoff Ponzi scheme was first discovered. Mr. Konigsberg pleaded not guilty and was released on bail Thursday.

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