Will Madoff CFO make a good witness?

August 26, 2009 | By Jim Kim

Things really have gone as planned for Frank DiPascali, Bernard Madoff's long-time CFO. He was undoubtedly relying on assurances from prosecutors that his cooperation would keep him out of jail before his sentencing, but the judge wasn't having it. He threw him in prison despite the objections of stunned government lawyers.

Things may not go so well for investigators and prosecutors with DiPascali as their main witness. He was so integral to the fraud for so long and he made off with $5 million in his own scam. You have to wonder if he can be a good witness. The New York Times' Deal Professor notes that if feeder funds are a target, more than DiPascali's word will be needed.

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