Bernie Madoff cried as he revealed fraud, jury told
Madoff pleaded guilty to 11 charges of fraud and is serving a
150-year prison sentence.
Bernie Madoff's right hand-man has revealed that the disgraced financier broke down in tears as he confessed the scope of his ponzi scheme.
Frank DiPascali, the star witness at the trial of five former Madoff employees, told a New York jury that a somewhat delirious and incoherent Madoff called him into his Manhattan office days before being arrested and cried about having "no money left".
"He turned to me and said, crying: 'I'm at the end of my rope,'" DiPascali told court on the eve of the five-year anniversary of Madoff’s arrest. "'I don't have any more goddamn money. The whole goddamn thing is a fraud.'"
DiPascali, who pleaded guilty to conspiracy and fraud, said Madoff was particularly worried about being arrested in front of his staff, insisting that the last thing he wanted was to "go out of this office in handcuffs".
Madoff's former lieutenant said the two talked about what would happen next and how their families would be affected by the scandal.
Madoff said his wife, Ruth, had assets under her name and asked DiPascali about his children.
“Ruth will be OK,” DiPascali recalled Madoff saying. “Is Joan going to be OK? Are your kids going to be OK?”
When asked about his reaction to Madoff's meltdown, DiPascali said he finally understood “the whole shooting match (was) going right down the toilet" and he would go to jail.
Madoff pleaded guilty to 11 charges of fraud in 2009 and is serving a 150-year prison sentence.
DiPascali has agreed to co-operate with US authorities investigating the case in a bid to shorten his prison sentence.
- 2 Maisie Williams has an excellent message for one confused fan
- 3 There is something wrong but very right about this Bible illustration
- 5 Tampon tax scrapped in Canada after petition convinces conservative government
Saudi Arabia mosque bombing: Two volunteer security guards hailed as heroes for stopping Isis suicide bomber reaching worshippers
Maisie Williams has an excellent message for one confused fan
Archaeologists discover 2,400-year-old gold bongs in Russia
Tampon tax scrapped in Canada after petition convinces conservative government
Migrants in Kos: Photos show real tragedy after British tourists complain of 'awkward' holidays
EU referendum: David Cameron's rules are a 'democratic disgrace', says French-born Scottish politician set to be denied a vote
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Migrants in Kos: Photos show real tragedy after Brits abroad complain of 'awkward' holidays
A nation of inequality: How the UK is failing to feed its most vulnerable people
Australian man punched in the face for defending Muslim women from abuse on train
David Starkey 'tells Amal Clooney to shut up and stop over-promoting human rights'
iJobs Money & Business
£30 - 35k: Guru Careers: We are seeking a Pricing Analyst to join a leading e-...
£20000 - £25000 per annum + OTE £45K YR1: SThree: At SThree, we like to be dif...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is a mul...
£55 - 65k (DOE): Guru Careers: A unique opportunity for a permanent C# Develop...