A peek into the legal future for the Berniverse.

Friehling is the only person in the Madoff meltdown, aside from Bernie, to be criminally charged thus far. On Wednesday, the Financial Times reported that Friehling might waive his right to criminal indictment, which suggests he could enter a guilty plea. On Thursday, Bloomberg confirmed that he had gone through with that plan. Because Friehling waived his right to indictment, a grand jury won't see evidence against him. Many suspect that Friehling will soon plead guilty.

J. Ezra Merkin

The Gist:

Former chairman of financial services group GMAC and manager to one of the largest Madoff feeder funds, which do most of their investing through another fund. Merkin placed $2.4 million of his clients' cash with the notorious former financier. He served as a central character in New York magazine's February feature on the scandal, which described Merkin as the yin to Madoff's yang—born into wealth, "an intellectual showman."

Attention focused on Merkin's transparency shortly after Madoff's arrest. On Jan. 15, New York State Attorney General Andrew Cuomo subpoenaed three of Merkin's hedge funds as he investigated whether Merkin had placed funds in Madoff Securities without prior knowledge from the investors.