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Former Madoff finance chief charged

Published on 10 Aug 2009 under category: legal

A former aide of financier Bernard Madoff is set to plead guilty to charges which are thought to relate to the 71-year-old's Ponzi fraud crimes, it has been revealed.

Frank DiPascali, who held a position of finance chief at Madoff Securities, is reported to be facing the action for his links to the high-profile $65 billion (£39 billion) scam which saw the former non-executive NASDAQ chairman jailed for 150 years earlier this year.

Mr DiPascali is expected to enter a guilty plea this week, although the exact charges have not yet been revealed.

As yet, only Mr Madoff and his company's outside accountant have been charged with fraud crimes, with the latter denying the allegations.

In other news, last week a man who posed as a celebrity chef was jailed for fraud crimes.

Kenneth Goldsmith has been handed a three-and-a-half year sentence after convincing businesspeople to invest in his start-up company, only to spend the money to fund his lifestyle.