Sunday, 21 December 2014
Last updated 1 day ago
Nov 20 2009 | 1:00pm ET
The CFO of Bernard Madoff’s $65 billion Ponzi scheme may have lost his bid to get out of prison, but he’s on the move anyway.
Frank DiPascali, who pleaded guilty to 10 counts of conspiracy, fraud and money laundering in August and is cooperating with prosecutors, was moved from the Metropolitan Detention Center in lower Manhattan to a suburban New York jail this week, the Federal Bureau of Prisons said.
DiPascali is now being held at the Westchester County Jail, north of the city. While the Westchester jail is a county facility, it sometimes houses federal inmates. DiPascali remains in federal custody.
It is unclear why DiPascali has been moved. Last month, a federal judge rejected his bail application—despite the support of the prosecutors he’s assisting—on the grounds that he is a flight risk. DiPascali faces up to 125 years in prison at his sentencing in the spring.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.