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 It appears that a reunion between Bernie Madoff and his No. 2 for 33 years, Frank DiPascali, will have to happen behind bars.Dipascali, 52, was charged Tuesday with a laundry list of crimes that could land him in his own medium-security cell for 125 years, according to an update on the U.S. Department of Justice Web site. DiPascali, the father of four grown children and who owns a five-bedroom house with a pool and a cabana in suburban Bridgewater, N.J., is expected to plead guilty today in federal court in Manhattan under a cooperation agreement.* In some cases, prosecutors allow defendants to plead guilty to reduced charges, former federal prosecutor Steven Peikin told Bloomberg; however, prosecutors haven't given DiPascali a break thus far, and are unlikely to do so now, he said. The charges include conspiracy, securities fraud, investment adviser fraud, mail fraud, wire fraud, perjury, tax evasion, falsifying books and records and international money laundering. Only Madoff and the firm's outside accountant, David Friehling, had previously been criminally charged. Friehling plead not guilty to the charges. DiPascali and Madoff were tight, one could even say "bros." In fact, Madoff was listed as the captain of DiPascali's 61-foot boat built by Viking Yacht Co. Thus, we'll leave you with this poignant and fitting prose by Walt Whitman: O Captain my Captain! our fearful trip is done, Where is Madoff's money? The ship has weathered every rack, the prize we sought is won, The port is near, the bells I hear, the people all exulting, While follow eyes the steady keel, the vessel grim and daring; But O heart! heart! heart! O the bleeding drops of red, Where on the deck my Captain lies, Fallen cold and dead. - Sara Behunek *UPDATE: DiPascali pleaded guilty in federal court in Manhattan Tuesday evening to 10 counts, including conspiracy, fraud and money laundering. His sentencing is set for May 15, 2010. DiPascali also settled a civil lawsuit with the U.S. Securities and Exchange Commission. "I knew I was participating in a fraudulent scheme," DiPascali told U.S. District Judge Richard Sullivan. "I knew everything I did was wrong, and it was criminal, and I did it knowingly and willfully. I accept complete responsibility for what I did. I apologize to every victim and to my family and the government. I am very, very, very sorry." See Also:
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