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Update: Frank DiPascali, Bernard Madoff's former Chief Finance Officer, pleaded guilty to ten felony counts detailed in 47-pages of criminal charges. Read more here. (8:24 p.m. EST)
Frank DiPascali, the former CFO for convicted Ponzi scheme investment manager Bernard 'Bernie' Madoff's company, Bernard L. Madoff Investment Securities, LLC, is expected to plead guilty today to ten criminal counts in the investment debacle.
According to a filing by the U.S. Attorney for the Southern District of New York, DiPascali's charges will include the following:
You can read a list of DiPascali's expected criminal charges and their potential corresponding penalties under the federal sentencing guidelines here:
DePascali is represented by Marc Mukasey, a former Assistant U.S. Attorney in the Southern District of New York, and the son of former U.S. Attorney General Michael Mukasey.
Here is the letter from federal prosecutors stating that DiPascali "will be arraigned and plead guilty" in federal court today:
Will he serve time in the same prison as his ex-boss?