Madoff CFO to plead guilty

Bernard Madoff’s chief financial officer is expected to plead guilty today on charges relating to his role in the $65bn Madoff ponzi scheme.

Frank DiPascali worked for Madoff Investment Securities for 33 years.

Reuters reports that court papers published on Friday revealed that the CFO will make a guilty plea, though the precise chargers were not specified. The document was a letter from US prosecutors to US District Court Judge Richard Sullivan.

The news has led to speculation that DiPascali may have agreed to plead guilty and supply information to investigators in exchange for a lighter sentence.

Bernard Madoff was sentenced in June to 150 years in prison. He has refused to provide detailed information on whether other people were involved in helping him swindle thousands of people.