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Madoff's "CFO" Free On $10 Million Bail
By
Jen Chung
Published Jun 22, 2010
Modified Jun 22, 2010
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By
Jen Chung
Published Jun 22, 2010
Modified Jun 22, 2010
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Frank DiPascali, who was the "chief financial officer" for Bernard Madoff's "investment" firm, was freed on $10 million bail today. According to the Daily News, he "went home to 24-hour house arrest," wearing "jeans, sneakers, a grey t-shirt and a big smile." Last August, he pleaded guilty to his part in the $65 billion scam, and has been cooperating with the authorities. DiPascali's lawyer claims his client can "can pull the curtain back on a fraud and answer a lot of questions"—the ones that "the whole world wants to be answered." An inmate thinks that DiPascali may know where Madoff's (alleged) $9 billion is hidden.
Tagged
bail
Bernard Madoff
frank dipascali
fraud
ponzi scheme
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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