Frank DiPascali Is Dead, Four Months Before His Sentencing

Frank DiPascali, the finance chief for convicted Ponzi scheme operator Bernie Madoff, died last week from lung cancer.

DiPascali, who was 58, served as the federal government’s star witness against other Madoff employees in hopes of possible leniency. He died on May 7 before sentencing for his own possible 125-year jail term.

“He was grateful to have been able to make some amends by helping the government these past few years,” his attorney Marc Mukasey said in a statement Sunday confirming DiPascali’s death.

Madoff is serving a 150-year federal prison term; he pleaded guilty to fraud, perjury and tax evasion without standing trial after the Ponzi scheme collapsed in Dec. 2008. The scam stole more than $17.3 billion from thousands of investors.

DiPascali pleaded guilty in 2009 to cooperate with prosecutors. He testified for 14 days in the trial of five former co-workers at Madoff’s firm.

The trial ended in March 2014 with all five convicted of fraud. Federal prosecutors are appealing their prison terms, which range from 2 1/2 years to 10 years, for being too lenient.

During the trial, DiPascali was asked how he felt about his part in misleading the Ponzi scheme victims. “I didn’t have any feelings about them one way or the other,” he said.

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