Friday, 19 September 2014
Last updated 50 min 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.