As Sholom Mordechai Sits Behind Bars, Madoff Accomplice Freed on Bail


madoff-accompliceA convicted accomplice to Bernard Madoff’s $65 billion dollar fraud has been freed on bail in exchange for his continued cooperation with the FBI and prosecutors who are trying to track missing investor funds.Frank DiPascali, 53, walked out of federal court surrounded by FBI agents and US marshals after being granted $10 million bail in February. A waiting Chevy Impala then drove the convicted swindler off – presumably to be re-united with his family.

Looking weary, DiPascali was wearing jeans, a grey t-shirt and his hair was long and curly. He did not answer NBC New York reporter Jonathan Dienst’s questions about what happened to the billions he helped steal or whether he thought he deserved to be sent home in exchange for his cooperation in the Madoff investigation.

DiPascali must meet a series of bail conditions, including living under 24-hour-a-day house arrest and wearing an electronic monitor, as he awaits sentencing for his role in the massive fraud.

Bernard Madoff & His Victims
Bernard Madoff & His Victims
DiPascali’s attorneys offered a “no comment” when they left the court and were asked about their notorious convicted client being let out of prison.

It was last August that DiPascali, Madoff’s finance chief, pleaded guilty to helping cheat investors for more than 20 years. He faces up to 125 years in prison when he is sentenced.

Last year, Judge Richard Sullivan had rejected a first request for bail, but in February he reversed course after prosecutors said DiPascali had provided invaluable assistance in detailing Madoff’s fraud.

Investigators have said DiPascali was instrumental in helping them bring charges last year against two former computer programmers.

Family and friends helped DiPascali raise the bail money and non-relatives agreed to risk $1 million in retirement savings to help the man already convicted of lying to investors.

DiPascali had said that before the Ponzi scheme unraveled he had always hoped Madoff would find a way to make enough money to repay investors.

“I knew it was criminal and I did it anyway,” DiPascali told Judge Sullivan.

Sullivan originally ordered DiPascali to jail immediately and said he would consider reducing his sentence if he cooperated with the FBI.

DiPascali and his wife, who have four children, also must forfeit all but $300,000 of their assets.

There was no comment from U.S. Attorney Preet Bharara about DiPascali’s release.

{NBC NY/Noam Newscenter}


  1. DiPascali admits his guilt. He is helping the government track stolen funds so that restitution can be made. And note, he has not been freed. He is awaiting sentencing, under strict house arrest.

    No comparison with the Rubashkin case here – it’s two different situations.

  2. this is just a ridiculous headline. It is not true journalistically. It is not true in darkei Hashem either. Unfortunately, the Heibishter hot gevolt that this was goes to prison and this one goes free. Go take your tainehs to the Ribono Shel Olam Himself instead of inciting the masses as you’ve done.

  3. Dear Anonymous:
    Keep your phony bitachon for when you have tzoras and not on others cheshbon. Matzav does a service to the community by bringing this to public attention.

  4. Inciting the masses? The masses are incited without Matzav. The masses are stunned by the yes, anti-semitism, and I repeat ANTI SEMITISM that is taking place in the Rubashkin case.

  5. By the way why dont you mention that Bernie Madoff got 150 years in prison a bit excessive no? Is it becausse he is not heimish?

  6. Shani,

    are you comparing willingly stealing $50 Billion to one who borrowed an additional 10 million, which he was paying on-time, until he was forced into bankruptcy.

    Shani dear, you now have less credibility than a Martian and should be ashamed of yourself!

  7. To the dissenters:
    I think the point here isjust that.This guy is Guilty and got away with it.Lehavdil, R’Sholom Mordechai ISN’T guilty and in Prison,R”L. How you missed it is beyond me.
    Interesting that you seem to see yourself worthy of being His spokesman.
    You seem to have missed the point: you’re comparing someone who ruined untold numbers of lives with someone who devoted himself to his people and his religion. Your criticism is absolutely misguided, and your logic pathetic.
    Sorry if I sound negative,but your comments seem nothing but arbitrary.

  8. Sure I makes sense madoff got 150 years. In this country, a persons money is more valuable than a person life. Murderors get off with much less time in jail than madoff did!!! What an embarrassement for this country.

  9. Dear “Amazed” – #9

    This guy didn’t “get away with it.” He is AWAITING SENTENCING. That is, he is not pardoned, or let off the hook. He will go to jail. He will probably go to jail for a shorter time because he was helping the prosecution, but he will still do time.

  10. @#11:
    the irony is that this fellow is “free on bail”. Helping the prosecution?! he was part of the evil to begin with!! the point being that SMR did NO wrong and is facing jail time.

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