US to ask for leniency for swindler Madoff’s former chief aide
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.
Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.
Follow Emirates 24|7 on Google News.