Frank DiPascali, Madoff aide-turned-government witness, dies

AP News
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Posted: May 11, 2015 1:14 PM

NEW YORK (AP) — Bernard Madoff's former right-hand man has died.

Frank DiPascali died Thursday of lung cancer. That's according to his attorney Marc Mukasey.

DiPascali testified for the government in the multi-billion dollar fraud case. He pleaded guilty and was scheduled to be sentenced on June 5 in Manhattan federal court.

In 2013, DiPascali said in court that Madoff cried when he revealed he was out of money more than a week before federal authorities learned the truth.

Five former top Madoff employees were convicted of helping in the Ponzi scheme. Madoff clients lost nearly $20 billion.