Frank DiPascali, Bernie Madoff’s CFO Number-Maker-Upper is going to be charged in connection with some money gone missing. DiPascali has agreed to skip the grand jury and get down to business, according to Bloomberg, indicating that he might flip. DiPascali seems to be taking a cue from another pseudo-bean counter who’s only plausible defense is stupidity.
U.S. to File Charges Against DiPascali, Ex-Madoff CFO [Bloomberg]
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Judge, Possibly Fearing a TP’d House, Denies Bail for Madoff CFO
Poor Frank DiPascali. The man’s name will be forever connected to largest Ponzi schemer (with, allegedly, the smallest penis) in history and he feels terrible about that.
Looks like DiPascali, who was a “CFO” in Ponzi World but in reality was probably just the best liar, will remain eating his meals with a spork until the end of his days.
His attorneys were trying bust the guy out so he can help investigators find a new Madoff cohort to put front and center but a judge denied bail yesterday despite a boatload of conditions:
Mr. DiPascali’s failed bail attempt came despite a new proposal presented by defense lawyers and prosecutors that included a $10 million bond, co-signed by nine people, including members of the DiPascali family, and the pledge of about $2 million in personal property. The new proposal required Mr. DiPascali to wear an electronic device that would plot his location by satellite. It also barred him from leaving home without an escort from the Federal Bureau of Investigation, except in a medical emergency.
Maybe the judge isn’t big on satellite technology but with Halloween on Saturday, it could have been a decision made on a more personal level. Those Madoff victims are a touchy bunch.
Court Denies Madoff Aide’s Request for Bail [NYT]
KPMG Analysis Finds That a Fraudster’s Traits Mirror Those of Pretty Much Every Boss You’ve Ever Worked For
Of course not all of your bosses are crooks…or are…nah. But just to be on the safe side, make sure you’re giving the stinkeye to anybody with the following characteristics:
• Volatility and being melodramatic, arrogant and confrontational, threatening or aggressive, when challenged.
• Performance or skills of new employees in their unit do not reflect past experiences detailed on resumes.
• Unreliability and prone to mistakes and poor performance, with a tendency to cut corners and/or bend the rules, but makes attempts to shift blame and responsibility for errors.
• Unhappy, apparently stressed and under pressure, while bullying and intimidating colleagues.
• Being surrounded by “favorites,” or people who do not challenge the fraudster, and micromanaging some employees, while keeping others at arm’s length.
• Vendors/suppliers will only deal with this individual, who also may accept generous gestures that are excessive or contrary to corporate rules.
• Persistent rumors or indications of personal bad habits, addictions or vices, possibly with a lifestyle that seems excessive for their income, or apparently personally over-extended in their finances.
• Self-interested and concerned with their own agenda, and who has opportunities to manipulate personal pay and rewards
But as we all know, the ex-stripper wife is the clincher.
[via KPMG]
Dewey Even Want to Know How Much Trouble the Ex-Heads of This Failed Law Firm Are In?
This is bad. Very very bad. Let's hop in the time machine and go back […]