Madoff's 'Ninja' Deputy Willing to Talk to Feds

By John Johnson, Newser Staff

Posted Apr 24, 2009 12:00 PM CDT

(Newser) – Bernie Madoff's chief deputy is ready to talk, Fortune reports. Frank DiPascali is working out a deal with federal prosecutors in which he’ll name names and give details of how the massive Ponzi scheme operated. Among the surprises: No Madoff family members will be implicated, at least by DiPascali. The others who knew of the ruse were operators of some of the larger feeder funds.

DiPascali is apparently in the position to know. He worked with Madoff for 33 years, though nobody is exactly sure what he did. “He was like a ninja,” says a trader who worked with the legitimate side of Madoff’s business. “Everyone knew he was a big deal, but he was like a shadow.”

In this March 10, 2009, file photo, Bernard Madoff exits Manhattan federal court. (AP Photo)

In this March 10, 2009 file photo, Bernard Madoff exits Manhattan federal court in New York. (AP Photo/Louis Lanzano, File)

Bernard Madoff arrives at Manhattan federal court Thursday, March 12, 2009, in New York. (AP Photo/ Louis Lanzano)

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OTHER STORIES ON OUR RADAR

fraud • Ponzi scheme • Bernard Madoff • Frank DiPascali

MOST POPULAR STORIES

[ By Views ]

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More Newser Stories

Madoff Has $9B Secret Stash: Fellow Inmate

Former partner knows where it is, may cut deal

Madoff Aide Pleads Guilty, Will Help Prosecutors

DiPascali will get time off his 125 years

Trustee Wants $30M More From Madoffs

Irving Picard sues, again, for money

Prisoner Madoff: 'F*** My Victims'

Ponzi schemer serving 150-year sentence becomes celeb in prison

Madoff Colleague Found Dead in Swimming Pool

Jeffry Picower faced Ponzi scheme lawsuit

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