Tags: US | Madoff | Scandal | Cooperator

Madoff's Ex-Finance Chief to Give up N.J. Home

Monday, 01 Feb 2010 11:34 PM

 

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The man who served as Bernard Madoff's finance chief has agreed to give up his New Jersey home so it can be sold for the benefit of those cheated by his jailed former boss.

A document posted Monday in the file of Frank DiPascali showed that he and his wife have agreed to give up the home in Bridgewater, N.J., along with its appliances, electronics and furnishings. It will be sold by the government.

The 52-year-old DiPascali pleaded guilty in August to helping Madoff's multi-decade Ponzi scheme that cost thousands of people billions of dollars.

DiPascali has been cooperating with investigators probing who knew about the Ponzi scheme before Madoff revealed it in December 2008.

Madoff is serving a 150-year sentence.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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