Madoff Aide Pleads Guilty, Will Help Prosecutors

DiPascali will get time off his 125 years
By John Johnson,  Newser Staff
Posted Aug 11, 2009 5:44 PM CDT
Bernard Madoff in March.   (AP Photo/Louis Lanzano, file)

(Newser) – Bernie Madoff's right-hand man pleaded guilty to a slew of fraud charges today and agreed to help prosecutors unravel how the multi-billion-dollar Ponzi scheme worked, the Wall Street Journal reports. In return, Frank DiPascali, 52, will get time shaved off his potential sentence of 125 years. DiPascali began working for Madoff in 1975 at age 19 and said he knew by the late 1980s that it was all a sham. "It was wrong, and I knew it at the time," he said.

"I know my apology means almost nothing," DiPascali added in court. "I hope my actions going forward with the government will mean something. I hope my help will bring some measure of comfort to those who have been harmed."