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Madoff's "CFO" Free On $10 Million Bail

2010_06_frankdipac.jpg 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.

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  • DrGonzo

    The claims about him knowing the location of $9 billion dollars sound like the desperate words of a desperate man trying to take everyone with him to jail. More likely though is that this was all made up hearsay by a prisoner who wanted to be quoted on the news with this being their only chance.

  • Rocknrope

    His family better have a good KNR policy.

  • rbeshenk

    $9 billion can buy a very efficient hit man.

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