| In August 2009, two months after Bernard Madoff was sentenced to 150 years in prison, Frank DiPascali- his right hand man and CFO- plead guilty in Manhattan Federal Court. Judge Richard Sullivan accepted the plea, but ended up remanding Mr DiPascali even though he had agreed to help the prosecution. DiPascali eventually got out of prison June 2010 and is now slated to testify on Monday at the trial of the 5 employees who are accused of assisting in the giant Ponzi scheme. http://www.usatoday.com/story/money/business/2013/11/29/dipascali-testify-against-former-madoff-employees/3759365/  |
| DiPascali stating his guilty plea to Judge Richard Sullivan in August 2009 by Elizabeth Williams |
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| After DiPascali guilty plea, Judge Sullivan ordered him remanded Excerpt from the New York Times http://www.nytimes.com/2009/08/15/business/15nocera.html?pagewanted=all&_r=0 |
Then, on Tuesday, Judge Sullivan refused to accept the bail arrangement negotiated between the United States attorney’s office and lawyers for Frank DiPascali. Mr. DiPascali, who spent most of his career as Bernard Madoff’s right-hand man in carrying out hisPonzi scheme, is now a critical government witness. The prosecutors wanted him to stay out of jail until his sentencing next May.
At Tuesday’s hearing, Mr. DiPascali confessed his crimes, and that is what made the headlines. But instead of being able to stay out of jail, on a $2.5 million bond partly secured by his sister’s house, Mr. DiPascali was carted off in handcuffs to the Metropolitan Corrections Center, the same tough lockup where Mr. Madoff was housed before he was sentenced earlier this summer.
This was a shock not just to Mr. DiPascali and his family, but to the prosecutors, who pleaded with Judge Sullivan to let him remain free so he could continue cooperating unfettered by strict jailhouse rules. Judge Sullivan refused, saying that Mr. DiPascali was a flight risk........
Love the drawing, Elizabeth.
ReplyDeleteThank you!!
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