{"entity":{"id":11357,"slug":"frank-dipascali","name":"Frank DiPascali","type":"person","role":"Director of Options Trading / de facto CFO, BLMIS","description":"Long-time BLMIS finance chief who managed the day-to-day mechanics of the Ponzi scheme. Pleaded guilty August 11, 2009 to ten felonies; cooperated extensively with prosecutors. Died May 7, 2015 of lung cancer while awaiting sentencing.","imageUrl":null,"createdAt":"2026-04-20T11:22:01.543Z","updatedAt":"2026-05-19T09:34:48.751Z"},"electedOffice":null,"significance":{"score":10,"components":{"totalFindings":0,"connectionDegree":8,"recentFindings90d":0,"activeResearchJobs":0,"goblinAttributions":2,"recentSyntheses90d":0,"moneyFlowChainsTotal":0,"closedLoopMemberships":0,"moneyFlowHopsRecent90d":0},"computedAt":"2026-10-16T01:34:31.424Z"},"facts":[{"id":23532,"text":"DiPascali died of lung cancer on May 7, 2015 at age 58, before being sentenced. His sentencing had been postponed from June to September 2015.","confidence":"primary","dateOccurred":"2015-05-07","source":{"title":"Bernie Madoff Lieutenant Frank DiPascali Dies 4 Months Before Sentencing","url":"https://abcnews.go.com/US/bernie-madoff-lieutenant-frank-dipascali-dies-months-sentencing/story?id=30961400","publication":"ABC News"}},{"id":20582,"text":"Died May 7, 2015 of lung cancer while still awaiting sentencing — never formally sentenced.","confidence":"secondary","dateOccurred":"2015-05-07","source":{"title":"Frank DiPascali — Wikipedia","url":"https://en.wikipedia.org/wiki/Frank_DiPascali","publication":"Wikipedia"}},{"id":23530,"text":"DiPascali testified that he and Madoff fabricated all trading, using historical stock data to create fake trade blotters, and that a specific computer named 'House 17' was used to simulate phantom trading.","confidence":"primary","dateOccurred":"2013-12-05","source":{"title":"Ex-aide says Madoff workers duped investor's account postmortem","url":"https://www.reuters.com/article/2013/12/05/us-madoff-employees-trial-idUSBRE9B401420131205/","publication":"Reuters"}},{"id":23529,"text":"He testified extensively as the government's star witness at the five-month trial of five former Madoff employees in U.S. v. Bonventre et al. (10-cr-228, SDNY), spending multiple weeks on the stand.","confidence":"primary","dateOccurred":"2013-10-15","source":{"title":"Ex-aide says Madoff workers duped investor's account postmortem","url":"https://www.reuters.com/article/2013/12/05/us-madoff-employees-trial-idUSBRE9B401420131205/","publication":"Reuters"}},{"id":20583,"text":"Cooperated extensively with federal prosecutors against other BLMIS personnel; testified at the 2013–2014 trial of five former BLMIS employees in U.S. v. Bonventre et al. (12-CR-152, SDNY).","confidence":"secondary","dateOccurred":"2013-10-15","source":{"title":"Frank DiPascali — Wikipedia","url":"https://en.wikipedia.org/wiki/Frank_DiPascali","publication":"Wikipedia"}},{"id":23527,"text":"He was released on bail on June 22, 2010 after posting a $10 million bond secured by nine friends and relatives, placed under house arrest with electronic monitoring.","confidence":"primary","dateOccurred":"2010-06-22","source":{"title":"Madoff accomplice DiPascali freed on bail, monitored at home","url":"https://www.nj.com/business/2010/06/madoff_accomplice_dipascali_fr.html","publication":"NJ.com / Star-Ledger"}},{"id":23528,"text":"DiPascali and his wife Joanne forfeited all family assets except $300,000, including their Bridgewater, NJ home, a 61-foot Viking yacht, three Mercedes, watches, jewelry, and a Jet Ski.","confidence":"primary","dateOccurred":"2010-06-18","source":{"title":"Madoff accomplice DiPascali freed on bail, monitored at home","url":"https://www.nj.com/business/2010/06/madoff_accomplice_dipascali_fr.html","publication":"NJ.com / Star-Ledger"}},{"id":23535,"text":"The SEC complaint, filed simultaneously with his guilty plea, detailed that DiPascali helped generate bogus annual returns of 10-17% by fabricating backdated trades and preparing fake DTC reports.","confidence":"primary","dateOccurred":"2009-08-11","source":{"title":"SEC Charges Key Madoff Lieutenant for Operating and Concealing Fraud Through Bogus Trades and Documents","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-21174","publication":"U.S. Securities and Exchange Commission"}},{"id":23533,"text":"In his allocution, DiPascali admitted his salary and bonuses exceeded $2 million annually and that he withdrew over $5 million from a sham account named after his yacht.","confidence":"primary","dateOccurred":"2009-08-11","source":{"title":"Frank DiPascali — Wikipedia","url":"https://en.wikipedia.org/wiki/Frank_DiPascali","publication":"Wikipedia"}},{"id":23526,"text":"DiPascali faced a maximum sentence of 125 years in prison and a symbolic $170.25 billion forfeiture judgment.","confidence":"primary","dateOccurred":"2009-08-11","source":{"title":"Madoff firm former exec being forced to forfeit house","url":"https://www.reuters.com/article/world/madoff-firm-former-exec-being-forced-to-forfeit-house-idUSTRE6110FM/","publication":"Reuters"}},{"id":23525,"text":"Judge Richard J. Sullivan denied DiPascali bail immediately after the guilty plea, stating he was 'reluctant to put my trust in Mr. DiPascali.'","confidence":"primary","dateOccurred":"2009-08-11","source":{"title":"Copy of Transcript from DiPascali Plea Hearing","url":"https://www.securitiesdocket.com/2009/08/12/copy-of-transcript-from-dipascali-plea-hearing/","publication":"Securities Docket"}},{"id":23524,"text":"His guilty plea was the first public confirmation that the Madoff fraud was a conspiracy involving multiple people, not solely Madoff.","confidence":"primary","dateOccurred":"2009-08-11","source":null},{"id":23523,"text":"He pleaded guilty on August 11, 2009 to ten felony counts: conspiracy, securities fraud, investment advisor fraud, mail fraud, wire fraud, perjury, income tax evasion, international money laundering, falsifying books and records of a broker-dealer, and falsifying books and records of an investment advisor.","confidence":"primary","dateOccurred":"2009-08-11","source":{"title":"Madoff CFO DiPascali Pleads Guilty to Criminal Charges","url":"https://archive.findlaw.com/blog/madoff-cfo-dipascali-pleads-guilty-to-criminal-charges/","publication":"FindLaw"}},{"id":23522,"text":"DiPascali admitted in his plea allocution that he had known for at least two decades that Madoff's investment advisory business was a Ponzi scheme.","confidence":"primary","dateOccurred":"2009-08-11","source":{"title":"It Was All Fake, Frank DiPascali, Madoff Aide, Tells Court","url":"https://archive.nytimes.com/www.nytimes.com/2009/08/12/business/12madoff.html","publication":"The New York Times"}},{"id":20584,"text":"Pleaded guilty August 11, 2009 to ten felonies including conspiracy, securities fraud, falsifying records, mail fraud, wire fraud, perjury, and tax evasion.","confidence":"secondary","dateOccurred":"2009-08-11","source":{"title":"Frank DiPascali — Wikipedia","url":"https://en.wikipedia.org/wiki/Frank_DiPascali","publication":"Wikipedia"}},{"id":23536,"text":"DiPascali perjured himself by giving false, voluntary testimony under oath in 2006 during the SEC's investigation of Madoff's investment firm.","confidence":"primary","dateOccurred":"2006-06-15","source":{"title":"Madoff CFO DiPascali Pleads Guilty to Criminal Charges","url":"https://archive.findlaw.com/blog/madoff-cfo-dipascali-pleads-guilty-to-criminal-charges/","publication":"FindLaw"}},{"id":23534,"text":"He established an account at Madoff's firm around 2002 in the name of his fishing yacht 'Dorothy Jo' without contributing money, then withdrew over $5 million.","confidence":"secondary","dateOccurred":"2002-06-15","source":{"title":"Frank DiPascali — Wikipedia","url":"https://en.wikipedia.org/wiki/Frank_DiPascali","publication":"Wikipedia"}},{"id":23520,"text":"He became Director of Options Trading in 1986 and CFO in 1996, overseeing the day-to-day operations of Madoff's investment advisory business on the 17th floor.","confidence":"primary","dateOccurred":"1986-06-15","source":{"title":"Frank DiPascali — Wikipedia","url":"https://en.wikipedia.org/wiki/Frank_DiPascali","publication":"Wikipedia"}},{"id":23519,"text":"DiPascali began working for Bernard L. Madoff Investment Securities in 1975 at age 18, recruited by his neighbor Annette Bongiorno, Madoff's longtime assistant.","confidence":"primary","dateOccurred":"1975-06-15","source":{"title":"It Was All Fake, Frank DiPascali, Madoff Aide, Tells Court","url":"https://archive.nytimes.com/www.nytimes.com/2009/08/12/business/12madoff.html","publication":"The New York Times"}},{"id":23518,"text":"Frank DiPascali Jr. was born on October 28, 1956 in Queens, New York, and graduated from Archbishop Molloy High School in 1974.","confidence":"primary","dateOccurred":"1956-10-28","source":{"title":"Frank DiPascali — Wikipedia","url":"https://en.wikipedia.org/wiki/Frank_DiPascali","publication":"Wikipedia"}},{"id":23537,"text":"He owed more than $2.15 million in federal income taxes for falsely filing tax returns that underreported his taxable income.","confidence":"primary","dateOccurred":null,"source":{"title":"Madoff CFO DiPascali Pleads Guilty to Criminal Charges","url":"https://archive.findlaw.com/blog/madoff-cfo-dipascali-pleads-guilty-to-criminal-charges/","publication":"FindLaw"}},{"id":23531,"text":"Prosecutors credited his cooperation with recovering billions in assets and securing convictions of 15 others connected to the scheme.","confidence":"primary","dateOccurred":null,"source":{"title":"Frank DiPascali — Wikipedia","url":"https://en.wikipedia.org/wiki/Frank_DiPascali","publication":"Wikipedia"}},{"id":23521,"text":"DiPascali claimed to be a director of Madoff Securities International Limited in London, but the UK Companies House has no record of his appointment as a director.","confidence":"primary","dateOccurred":null,"source":null}],"connections":[{"id":18048,"relationshipType":"connected_through_Madoff_feeder_structure","description":"DiPascali was a key Madoff lieutenant who facilitated feeder fund investments; Grosso's Kingate role places him in that network.","confidence":"inferential","firstDocumented":"unknown","lastDocumented":null,"other":{"id":11574,"name":"Carlo Grosso","slug":"carlo-grosso","type":"person"}},{"id":18004,"relationshipType":"none","description":"No documented connection between DiPascali and Maxwell in the provided facts.","confidence":"inferential","firstDocumented":"2026","lastDocumented":null,"other":{"id":979,"name":"Ghislaine Maxwell","slug":"ghislaine-maxwell","type":"person"}},{"id":18003,"relationshipType":"none","description":"No documented connection between DiPascali and Epstein in the provided facts.","confidence":"inferential","firstDocumented":"2026","lastDocumented":null,"other":{"id":8,"name":"Jeffrey Epstein","slug":"jeffrey-epstein","type":"person"}},{"id":18002,"relationshipType":"investigated by / cooperated with","description":"The Madoff investigation was led by the FBI; DiPascali's cooperation was part of the government's case involving FBI investigation.","confidence":"inferential","firstDocumented":"2009","lastDocumented":null,"other":{"id":84,"name":"Federal Bureau of Investigation (FBI)","slug":"federal-bureau-of-investigation-fbi","type":"institution"}},{"id":17998,"relationshipType":"contractor","description":"Mossack Fonseca was used in Madoff-related offshore structures; DiPascali's fabricated trades may have supported those structures.","confidence":"inferential","firstDocumented":"2009","lastDocumented":null,"other":{"id":11568,"name":"Mossack Fonseca","slug":"mossack-fonseca","type":"company"}},{"id":17997,"relationshipType":"feeder fund","description":"Optimal, a Banco Santander fund, invested with Madoff; DiPascali's fraud supported its returns.","confidence":"inferential","firstDocumented":"2009","lastDocumented":null,"other":{"id":11478,"name":"Optimal Strategic US Equity","slug":"optimal-strategic-us-equity","type":"company"}},{"id":17996,"relationshipType":"feeder fund","description":"Kingate was a feeder fund; DiPascali's fabricated trades supported this fund's investments.","confidence":"inferential","firstDocumented":"2009","lastDocumented":null,"other":{"id":11477,"name":"Kingate Global Fund","slug":"kingate-global-fund","type":"company"}},{"id":17995,"relationshipType":"investor","description":"Santander was a major investor in Madoff through Optimal; DiPascali's fabricated returns supported the scheme.","confidence":"inferential","firstDocumented":"2009","lastDocumented":null,"other":{"id":11479,"name":"Banco Santander","slug":"banco-santander","type":"company"}},{"id":17994,"relationshipType":"feeder fund","description":"Tremont was a feeder fund; DiPascali's fabricated annual returns of 10-17% attracted such funds.","confidence":"inferential","firstDocumented":"2009","lastDocumented":null,"other":{"id":11475,"name":"Tremont Group Holdings","slug":"tremont-group-holdings","type":"company"}},{"id":17993,"relationshipType":"feeder fund","description":"Fairfield Sentry was a fund that invested with Madoff; DiPascali's fabricated trading records supported these investments.","confidence":"inferential","firstDocumented":"2009","lastDocumented":null,"other":{"id":11571,"name":"Fairfield Sentry Limited","slug":"fairfield-sentry-limited","type":"company"}},{"id":17992,"relationshipType":"feeder fund","description":"Fairfield Greenwich was a major feeder fund into Madoff's scheme; DiPascali helped fabricate returns that attracted such funds.","confidence":"inferential","firstDocumented":"2009","lastDocumented":null,"other":{"id":11471,"name":"Fairfield Greenwich Group","slug":"fairfield-greenwich-group","type":"company"}},{"id":17991,"relationshipType":"co-worker","description":"Andrew Madoff worked at BLMIS; DiPascali worked alongside him, though no direct statement linking them.","confidence":"inferential","firstDocumented":"1975","lastDocumented":null,"other":{"id":11362,"name":"Andrew Madoff","slug":"andrew-madoff","type":"person"}},{"id":17990,"relationshipType":"co-worker","description":"Mark Madoff worked at BLMIS; DiPascali worked alongside him, though no direct statement linking them.","confidence":"inferential","firstDocumented":"1975","lastDocumented":null,"other":{"id":11361,"name":"Mark Madoff","slug":"mark-madoff","type":"person"}},{"id":17989,"relationshipType":"related Ponzi scheme beneficiary","description":"Shapiro was a major Madoff investor; DiPascali's cooperation aided recovery of billions, but no direct documented link.","confidence":"inferential","firstDocumented":"2009","lastDocumented":null,"other":{"id":11360,"name":"Carl Shapiro","slug":"carl-shapiro","type":"person"}},{"id":17988,"relationshipType":"related Ponzi scheme beneficiary","description":"Picower was a major Madoff investor who profited from the fraud; DiPascali's cooperation contributed to asset recovery efforts, though no direct documented connection.","confidence":"inferential","firstDocumented":"2009","lastDocumented":null,"other":{"id":11359,"name":"Jeffry Picower","slug":"jeffry-picower","type":"person"}},{"id":17987,"relationshipType":"collaboration","description":"Both were key executives at BLMIS, with Frank DiPascali serving as the chief financial officer who pleaded guilty in the Madoff fraud scheme.","confidence":"inferential","firstDocumented":"2012","lastDocumented":null,"other":{"id":11356,"name":"Peter Madoff","slug":"peter-madoff","type":"person"}},{"id":19580,"relationshipType":"employer_employee","description":"DiPascali ran the operational mechanics of the BLMIS Ponzi scheme as Madoff's long-serving lieutenant; cooperator after pleading guilty August 2009.","confidence":"primary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":11354,"name":"Bernie Madoff","slug":"bernie-madoff","type":"person"}},{"id":18001,"relationshipType":"tax evasion target","description":"DiPascali pleaded guilty to income tax evasion for underreporting taxable income, owing $2.15 million in back taxes.","confidence":"primary","firstDocumented":"2009","lastDocumented":null,"other":{"id":93,"name":"Internal Revenue Service (IRS)","slug":"internal-revenue-service-irs","type":"institution"}},{"id":18000,"relationshipType":"held position","description":"DiPascali became CFO of BLMIS in 1996, overseeing day-to-day operations of the investment advisory business.","confidence":"primary","firstDocumented":"1996","lastDocumented":null,"other":{"id":3264,"name":"Office of the Chief Financial Officer (OCFO)","slug":"office-of-the-chief-financial-officer-ocfo","type":"government_agency"}},{"id":17999,"relationshipType":"prosecution venue","description":"DiPascali pleaded guilty in SDNY (case 09-MAG-2358 or related), and testified at the SDNY trial U.S. v. Bonventre et al. (10-cr-228, SDNY).","confidence":"primary","firstDocumented":"2009","lastDocumented":null,"other":{"id":993,"name":"Southern District of New York (SDNY)","slug":"southern-district-of-new-york-sdny","type":"institution"}},{"id":11290,"relationshipType":"civil_defendant","description":"The SEC filed a civil complaint against DiPascali on August 11, 2009, parallel to the criminal case.","confidence":"primary","firstDocumented":null,"lastDocumented":null,"other":{"id":391,"name":"Securities and Exchange Commission","slug":"securities-and-exchange-commission","type":"government_agency"}},{"id":11289,"relationshipType":"employed_by","description":"DiPascali worked for Madoff at BLMIS for 33 years (1975–2008) and was his closest confidante in operating the Ponzi scheme.","confidence":"primary","firstDocumented":null,"lastDocumented":null,"other":{"id":11355,"name":"Bernard L. Madoff Investment Securities","slug":"bernard-l-madoff-investment-securities","type":"company"}},{"id":11160,"relationshipType":"employment","description":"DiPascali ran the operational mechanics of the BLMIS Ponzi scheme as Madoff's long-serving lieutenant; cooperator after pleading guilty August 2009.","confidence":"primary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":11354,"name":"Bernie Madoff","slug":"bernie-madoff","type":"person"}},{"id":11291,"relationshipType":"trustee","description":"Court-appointed SIPC trustee for the liquidation of BLMIS, whom DiPascali's cooperation assisted in recovering assets.","confidence":"secondary","firstDocumented":null,"lastDocumented":null,"other":{"id":11358,"name":"Irving H. Picard","slug":"irving-h-picard","type":"person"}}],"contradictions":[],"permalink":"https://www.goblinhouse.net/entity/frank-dipascali","timelineUrl":"https://www.goblinhouse.net/entity/frank-dipascali/timeline"}