Frank DiPascali | |
---|---|
Born | Frank DiPascali Jr. October 28, 1956 Queens, New York, U.S. |
Died | May 7, 2015 | (aged 58)
Education | courses at St. John's University, Brooklyn College |
Occupation(s) | Director of options trading chief financial officer |
Employer | Bernard L. Madoff Investment Securities |
Known for | Ponzi scheme, director of options trading and chief financial officer of Bernard L. Madoff Investment Securities (prior) |
Criminal status | Convicted, died before sentencing |
Spouse | JoAnne (married c. 1985) |
Criminal charge | conspiracy, securities fraud, investment advisor fraud, mail fraud, wire fraud, perjury, income tax evasion, international money laundering, falsifying books and records of a broker-dealer, and falsifying books and records of an investment advisor |
Frank DiPascali Jr. (October 28, 1956 – May 7, 2015) was an American fraudster and financier who was a key lieutenant of Bernie Madoff for three decades.[1][2] He referred to himself as the company's "director of options trading" and as "chief financial officer". For a number of years, he played a key part in the daily operation of the Madoff investment scandal, later recounting how he helped manipulate billions of dollars in account statements so clients would believe that they were creating wealth for them.[3]
On August 11, 2009, he pleaded guilty to ten counts related to the fraud.[4][5] He subsequently admitted that he had known for at least two decades that Madoff had turned his investment advisory business into a massive Ponzi scheme. He was denied bail before sentencing and spent ten months in jail before being released. He died of lung cancer in 2015 while awaiting sentencing.
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