Filings from U.S. prosecutors made Friday revealed DiPascali, whom analysts expect could become a key witness against Madoff, will enter a guilty plea Tuesday in federal court in Manhattan before U.S. District Judge Richard Sullivan, The Wall Street Journal reported.
The newspaper said it wasn't clear if DiPascali's guilty plea is coming with an agreement to testify against Madoff, who is accused of running a massive Ponzi scheme.
Quoting unnamed "people familiar with the matter," the Journal said prosecutors are looking at evidence that some of Madoff's biggest investors were aware the former Wall Street figure's investment deals were illegal but continued to participate. The cooperation of DiPascali could provide crucial corroborating testimony in future actions taken against them, the newspaper said.
DiPascali served as a customer liason for Madoff, serving as the person they
dealt with regarding their investments and also supervising a handful of other employees keeping track of client orders, unnamed people familiar with the company told the Journal.
Copyright 2009 by United Press International.
Rumors about Bernard
Rumors about Bernard Madoff's cancer diagnosis has been spreading around. Wall Street swindler Bernard Madoff is telling fellow inmates he's dying of cancer. Madoff, 71, is serving 150 years in a North Carolina prison for conducting the largest Ponzi scheme in history. Wishes of his diagnosis from victims of his Ponzi scheme or people that want to see justice done may very well be coming true. Rumors are beginning to circulate. Apparently, Bernard Madoff has been telling inmates at the Federal Prison he resides in that he has pancreatic cancer, one of the most aggressive and hardest to treat, and usually diagnosis is prelude to death in five years or less. He likely won't have to worry about debt consolidation – all of his assets were confiscated, except a little cash for his wife. Many people would give more than the cheapest personal loans to see Madoff cancer a reality – and some think he'll never suffer enough.
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