Frank DiPascali, a top aide to Bernard Madoff, pleaded guilty on Tuesday to 10 criminal charges and gave extensive new details about the $65bn Ponzi scheme orchestrated by his boss, saying: “It was all fake. It was all fictitious.” DiPascali, who has agreed to co-operate with prosecutors, told the court how he, Madoff and unnamed others fabricated millions of pages of documents, regularly lied to investors and regulators, and moved money to London and back to throw watchdogs off the scent.

This entry was posted by Gwen Robinson on Wednesday, August 12th, 2009 at 5:02 and is filed under Capital markets, Hedge funds, People. Tagged with Bernard Madoff. Edit this entry.