According to the New York Law Journal, Bernard L. Madoff's right-hand man pleaded guilty Tuesday and is cooperating in the government's investigation into the largest Ponzi scheme in history.
Frank DiPascali Jr. waived indictment and entered guilty pleas to 10 counts in a criminal information before Southern District of New York Judge Richard J. Sullivan. DiPascali admitted he was part of a scheme that cost institutions, individual investors and charities billions of dollars.
In spite of his cooperation with the government and over the objections of both his defense counsel and the prosecution, Sullivan ordered DiPascali to jail immediately.
DiPascali, who began working for Madoff in 1975 and who was described as the company's chief financial officer, said the conspiracy dated back to the early 1980s and that he followed Madoff's lead from the outset. |
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