Yesterday, Madoff's "CFO" pleaded guilty to numerous crimes and was sent directly to jail.
The Times reported:
...On Tuesday, Mr. DiPascali stood in a federal courtroom in Lower Manhattan and admitted that, for at least the last 20 years, he had helped Mr. Madoff carry out one of the biggest frauds in Wall Street history.
Indeed, he detailed for the first time how he and unidentified others helped Mr. Madoff perpetuate the crime — using historical stock data from the Internet to create fake trade blotters, sending out fraudulent account statements to clients and arranging wire transfers between Mr. Madoff’s London and New York offices to create the impression that the firm was earning commissions from stock trades.
“I knew it was criminal, and I did it anyway,” Mr. DiPascali told Judge Richard J. Sullivan, of Federal District Court, just before pleading guilty to 10 felony counts, including conspiracy and tax evasion.
But Judge Sullivan refused to release Mr. DiPascali on bail after his plea, despite a request by prosecutors that he remain free to better assist their complex wide-ranging investigations, a jolt to both the government attorneys and the defense lawyers...
A graduate of Archbishop Molloy High School in Briarwood, Queens, Mr. DiPascali said he knew nothing about finance or Wall Street when he went to work for Mr. Madoff in 1975. He worked as a research analyst, an options trader and “a guy who basically did whatever I was told to do around the office...more...”