2.40 AM Thursday, 30 November 2023
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30 November 2023

US to ask for leniency for swindler Madoff’s former chief aide

A man who helped Wall Street swindler Bernard Madoff steal billions of dollars has earned himself friends in the Justice Department.

In a letter made public Friday, federal prosecutors said Madoff’s former chief aide Frank DiPascali had provided “substantial assistance” to investigators.

They said they anticipated writing an “extraordinary” letter recommending leniency when he is sentenced for crimes including securities fraud and money laundering.

The memo to the judge was initially written in December but remained sealed until Friday.

Sections of the letter describing DiPascali’s cooperation are still secret.

DiPascali pleaded guilty in August to helping Madoff implement his massive Ponzi scheme. DiPascali’s bail had been set at US$10 million.  


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