11 August 2009

L'Affaire Madoff About to Get Interesting

Bernie Madoff's former CFO, Frank DiPascali, has pled guilty to 10 counts regarding the Ponzi scheme. (see also here)

What makes this interesting is that he is "cooperating with authorities."

Madoff simply pled guilty, and asked for nothing, and has refused to talk to prosecutors, which implies that he's protecting someone, most likely his family, but DiPascali appears to be ready to dish dirt, which likely means that his wife Ruth, or his children who worked with him in the business, are going to have some interesting days ahead.

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