Face Behind The Name: Meet Frank DiPascali, Madoff’s Man On Mets Account

A roadmap to the remarkable financial intertwine between Bernard Madoff and the owners of the New York Mets was provided to a bankruptcy court trustee by a former Madoff deputy who is awaiting sentencing for his role in the Ponzi scheme.

As detailed by trustee Irving Picard, Frank DiPascali was the Madoff firm’s “assigned point of contact with respect to the day-to-day administration” of hundreds of accounts held by Fred Wilpon and Saul Katz and their associates.

DiPascali, 54, pleaded guilty in mid-2009 to a 10-count felony information charging him with helping to run Madoff’s criminal operation for two decades. He has been cooperating with federal probes into the Ponzi scheme and is expected to appear as a government witness at trials of Madoff associates, according to a November letter filed by prosecutors in U.S. District Court.

According to Picard, Arthur Friedman--general partner in Wilpon’s Sterling Equities and a Mets board member--“wrote hundreds of letters to DiPascali detailing transaction requests with respect to” hundreds of accounts opened by the Wilpon and Katz entities. Copies of this correspondence trove apparently are in the possession of Picard (and, presumably, federal investigators).

DiPascali is pictured above in a United States Marshals Service mug shot.

Comments (1)

The only good rat is a rat that finks.