Wednesday, August 12, 2009
Zachary A. Goldfarb, Washington Post,
Zachary A. Goldfarb, Washington Post,
Madoff’s CFO, Frank DiPascali Jr. pleads guilty to fraud
Bernard Madoff's right-hand man pleaded guilty Tuesday to fraud, conspiracy and other criminal charges, making him the first of Madoff's employees to confess to helping the infamous money manager orchestrate a Ponzi scheme worth up to $65 billion.
Frank DiPascali Jr., who was the chief financial officer of Madoff's firm and oversaw his investment strategy, faces 10 criminal charges that could send him to prison for 125 years.
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Posted by Editor on 08/12/09 at 05:19 AM •
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