Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Madoff CFO Will Plead Guilty
By
Jen Chung
Published Aug 8, 2009
Modified Aug 8, 2009
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Jen Chung
Published Aug 8, 2009
Modified Aug 8, 2009
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
Court papers reveal that Frank DiPascali, who said was the right hand man of $65 billion Ponzi schemer Bernard Madoff (pictured), will plead guilty. DiPascali, the chief financial officer of Madoff Investment Securities, waived his right to an indictment and will plead guilty to to criminal charges on Tuesday. Former federal prosecutor Andrew Hruska tells Bloomberg News, "It would be reasonable for him to cooperate. The evidence against Madoff was strong enough for Madoff to go down without a fight. That would make it very difficult for someone in DiPascali’s position to fight the charges," and notes that DiPascali has his usefulness, "He seems to have been the key player in executing the decisions that Madoff made." A source tells Newsday that DiPascali "was in charge of all the ladies who sent out [trading] confirmations. He had contact with the [hedge] funds." A spokeswoman for the law firm representing DiPascali—Bracewell & Giuliani LLP (yes, that Giuliani—had no comment.
Tagged
Bernard Madoff
frank dipascali
fraud
guilty
ponzi scheme
white collar crime
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
NYC sues personal injury law firm accused of bogus trip-and-fall claims
City attorneys allege the firm said its clients were injured by defective city streets or sidewalks when in reality they were hit by cars or banged up in fights.
By
Walter Wuthmann
Published Oct 19, 2026 at 6:00 a.m. ET
NYC Council to consider earlier Legionella reporting after deadly outbreaks
A bill facing a hearing Monday would require cooling tower owners to notify city health officials when bacteria levels reach a much lower threshold.
By
Catalina Gonella
News
NYC Council to consider earlier Legionella reporting after deadly outbreaks
A bill facing a hearing Monday would require cooling tower owners to notify city health officials when bacteria levels reach a much lower threshold.
By
Catalina Gonella
Staten Island fire injures 2, but spares historic 'Godfather' church
By
Giulia Heyward
Bail reform remains major issue in NY governor's race, 7 years after it became law
By
Gino Fanelli
NYPD identifies Bronx man, 26, killed in Midtown subway shooting
By
Ryan Kost
,
Elizabeth Kim
and
Phil Corso
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .