SUBJECT-11357.dossier · person · status: archived
FD
subject of file

Frank DiPascali

Director of Options Trading / de facto CFO, BLMIS
Tracked because Operational architect of the daily fraud; cooperator whose testimony illuminated the scheme.
Editorial summary · AI-drafted from public records

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.

Facts on record23
Connections mapped23
Sources cited17
Evidence: 19P+11 4S
Network web → Timeline → Compare with… → Position Drift → Coverage tone → View on Graph → View Card → Export CSV JSON Dossier ← Entity Directory
Stated vs Revealed
No documented contradictions on file.
TIMELINE Role Overlap Visualizer →
Connection Map
Key Connections
→ Office of the Chief Financial Officer (OCFO) government agency
held position
DiPascali became CFO of BLMIS in 1996, overseeing day-to-day operations of the investment advisory business.
→ Southern District of New York (SDNY) institution
prosecution venue
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).
→ Internal Revenue Service (IRS) institution
tax evasion target
DiPascali pleaded guilty to income tax evasion for underreporting taxable income, owing $2.15 million in back taxes.
← Bernard L. Madoff Investment Securities company
employed_by
DiPascali worked for Madoff at BLMIS for 33 years (1975–2008) and was his closest confidante in operating the Ponzi scheme.
← Securities and Exchange Commission government agency
civil_defendant
The SEC filed a civil complaint against DiPascali on August 11, 2009, parallel to the criminal case.
← Bernie Madoff person
employment
DiPascali ran the operational mechanics of the BLMIS Ponzi scheme as Madoff's long-serving lieutenant; cooperator after pleading guilty August 2009.
Facts (23)
Data Freshness
Ageing Last update: 160d ago · Avg age: 1616d
Confidence Tiers: Primary Source — cross-referenced government/corporate filings Pending Review — sourced but not independently verified AI Inference — analytical hypothesis from cross-referencing
✓ Verified Findings (23)
Independently re-checked: a second model read the source artifact and confirmed it supports the extracted claim.
✓ verified Primary Source He owed more than $2.15 million in federal income taxes for falsely filing tax returns that underreported his taxable income.
✓ verified Primary Source DiPascali perjured himself by giving false, voluntary testimony under oath in 2006 during the SEC's investigation of Madoff's investment firm.
✓ verified Primary Source 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.
✓ verified Partially Corroborated 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.
Date: 2002-06-15 Added: 23 Apr 2026 ↗ SOURCE: Frank DiPascali — Wikipedia
✓ verified Primary Source 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.
Date: 2009-08-11 Added: 23 Apr 2026 ↗ SOURCE: Frank DiPascali — Wikipedia
✓ verified Primary Source 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.
✓ verified Primary Source Prosecutors credited his cooperation with recovering billions in assets and securing convictions of 15 others connected to the scheme.
✓ verified Primary Source 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.
✓ verified Primary Source 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.
✓ verified Primary Source 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.
✓ verified Primary Source 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.
✓ verified Primary Source DiPascali faced a maximum sentence of 125 years in prison and a symbolic $170.25 billion forfeiture judgment.
✓ verified Primary Source Judge Richard J. Sullivan denied DiPascali bail immediately after the guilty plea, stating he was 'reluctant to put my trust in Mr. DiPascali.'
✓ verified Pending Review His guilty plea was the first public confirmation that the Madoff fraud was a conspiracy involving multiple people, not solely Madoff.
Date: 2009-08-11 Added: 23 Apr 2026
✓ verified Primary Source 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.
✓ verified Primary Source 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.
✓ verified Pending Review 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.
Added: 23 Apr 2026
✓ verified Primary Source 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.
Date: 1986-06-15 Added: 23 Apr 2026 ↗ SOURCE: Frank DiPascali — Wikipedia
✓ verified Primary Source DiPascali began working for Bernard L. Madoff Investment Securities in 1975 at age 18, recruited by his neighbor Annette Bongiorno, Madoff's longtime assistant.
✓ verified Primary Source Frank DiPascali Jr. was born on October 28, 1956 in Queens, New York, and graduated from Archbishop Molloy High School in 1974.
Date: 1956-10-28 Added: 23 Apr 2026 ↗ SOURCE: Frank DiPascali — Wikipedia
✓ verified Partially Corroborated Died May 7, 2015 of lung cancer while still awaiting sentencing — never formally sentenced.
Date: 2015-05-07 Added: 20 Apr 2026 ↗ SOURCE: Frank DiPascali — Wikipedia
✓ verified Partially Corroborated 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).
Date: 2013-10-15 Added: 20 Apr 2026 ↗ SOURCE: Frank DiPascali — Wikipedia
✓ verified Partially Corroborated Pleaded guilty August 11, 2009 to ten felonies including conspiracy, securities fraud, falsifying records, mail fraud, wire fraud, perjury, and tax evasion.
Date: 2009-08-11 Added: 20 Apr 2026 ↗ SOURCE: Frank DiPascali — Wikipedia
All Connections (23)
→ Irving H. Picard person
trustee secondary
Court-appointed SIPC trustee for the liquidation of BLMIS, whom DiPascali's cooperation assisted in recovering assets.
→ Jeffry Picower person
related Ponzi scheme beneficiary inferential since 2009
Picower was a major Madoff investor who profited from the fraud; DiPascali's cooperation contributed to asset recovery efforts, though no direct documented connection.
→ Carl Shapiro person
related Ponzi scheme beneficiary inferential since 2009
Shapiro was a major Madoff investor; DiPascali's cooperation aided recovery of billions, but no direct documented link.
→ Mark Madoff person
co-worker inferential since 1975
Mark Madoff worked at BLMIS; DiPascali worked alongside him, though no direct statement linking them.
→ Andrew Madoff person
co-worker inferential since 1975
Andrew Madoff worked at BLMIS; DiPascali worked alongside him, though no direct statement linking them.
feeder fund inferential since 2009
Fairfield Greenwich was a major feeder fund into Madoff's scheme; DiPascali helped fabricate returns that attracted such funds.
feeder fund inferential since 2009
Fairfield Sentry was a fund that invested with Madoff; DiPascali's fabricated trading records supported these investments.
feeder fund inferential since 2009
Tremont was a feeder fund; DiPascali's fabricated annual returns of 10-17% attracted such funds.
→ Kingate Global Fund company
feeder fund inferential since 2009
Kingate was a feeder fund; DiPascali's fabricated trades supported this fund's investments.
feeder fund inferential since 2009
Optimal, a Banco Santander fund, invested with Madoff; DiPascali's fraud supported its returns.
→ Mossack Fonseca company
contractor inferential since 2009
Mossack Fonseca was used in Madoff-related offshore structures; DiPascali's fabricated trades may have supported those structures.
prosecution venue primary since 2009
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).
held position primary since 1996
DiPascali became CFO of BLMIS in 1996, overseeing day-to-day operations of the investment advisory business.
tax evasion target primary since 2009
DiPascali pleaded guilty to income tax evasion for underreporting taxable income, owing $2.15 million in back taxes.
investigated by / cooperated with inferential since 2009
The Madoff investigation was led by the FBI; DiPascali's cooperation was part of the government's case involving FBI investigation.
→ Jeffrey Epstein person
none inferential since 2026
No documented connection between DiPascali and Epstein in the provided facts.
→ Ghislaine Maxwell person
none inferential since 2026
No documented connection between DiPascali and Maxwell in the provided facts.
→ Banco Santander company
investor inferential since 2009
Santander was a major investor in Madoff through Optimal; DiPascali's fabricated returns supported the scheme.
employed_by primary
DiPascali worked for Madoff at BLMIS for 33 years (1975–2008) and was his closest confidante in operating the Ponzi scheme.
← Securities and Exchange Commission government agency
civil_defendant primary
The SEC filed a civil complaint against DiPascali on August 11, 2009, parallel to the criminal case.
← Bernie Madoff person
employment, employer_employee primary
DiPascali ran the operational mechanics of the BLMIS Ponzi scheme as Madoff's long-serving lieutenant; cooperator after pleading guilty August 2009.
← Peter Madoff person
collaboration inferential since 2012
Both were key executives at BLMIS, with Frank DiPascali serving as the chief financial officer who pleaded guilty in the Madoff fraud scheme.
← Carlo Grosso person
connected_through_Madoff_feeder_structure inferential since unknown
DiPascali was a key Madoff lieutenant who facilitated feeder fund investments; Grosso's Kingate role places him in that network.
Sources (17)
2026 UNVERIFIED Research: Frank DiPascali — Lobbying disclosures (no results) government_disclosure Processed 📜 Receipt
2026-05-09 UNVERIFIED SEARCH_ERROR: Frank DiPascali not found in fec claim_flag Processed 📜 Receipt
2026 UNVERIFIED Research: Frank DiPascali — SEC filings (no results) sec_filing Processed 📜 Receipt
2026 UNVERIFIED Research: Frank DiPascali — Parliamentary records (no results) parliamentary_record Processed 📜 Receipt
2026 UNVERIFIED Research: Frank DiPascali — FEC donations (no results) fec_record Processed 📜 Receipt
2026 UNVERIFIED Research: Frank DiPascali — Court records (no results) court_document Processed 📜 Receipt
2015-05-11 ↗ Frank DiPascali, Madoff deputy aided US, dies at 58 external_handoff Processed 📜 Receipt
2014-03-06 ↗ Defense attacks Madoff aide's credibility discovery_scope_note Processed 📜 Receipt
2015-05-11 ↗ Bernie Madoff Lieutenant Frank DiPascali Dies 4 Months Before Sentencing external_handoff Processed 📜 Receipt
2010-06-23 ↗ Madoff accomplice DiPascali freed on bail, monitored at home external_handoff Processed 📜 Receipt
2010-02-02 ↗ Madoff firm former exec being forced to forfeit house discovery_scope_note Processed 📜 Receipt
2013-12-05 ↗ Ex-aide says Madoff workers duped investor's account postmortem discovery_scope_note Processed 📜 Receipt
2009-08-11 ↗ Madoff CFO DiPascali Pleads Guilty to Criminal Charges external_handoff Processed 📜 Receipt
2009-08-12 ↗ Copy of Transcript from DiPascali Plea Hearing external_handoff Processed 📜 Receipt
2015-05-13 ↗ United States v. Frank DiPascali Jr. external_handoff Processed 📜 Receipt
2009-08-11 ↗ SEC Charges Key Madoff Lieutenant for Operating and Concealing Fraud Through Bog… external_handoff Processed 📜 Receipt
2009-08-12 ↗ It Was All Fake, Frank DiPascali, Madoff Aide, Tells Court web_search Processed 📜 Receipt