A renewed effort by former Madoff employee Frank DiPascali Jr., as well as federal prosecutors, to allow DiPascali to go free on bail until his trial has again been rejected by U.S. Judge Richard J. Sullivan (SDNY). Prosecutors told the judge that bail would permit DiPascali to more easily assist their continuing investigation, but Judge Sullivan was not persuaded, the NY Times reports.
As previously discussed here, DiPascali has been in jail since August 2009, when over the objections of the government, Judge Sullivan refused to grant bail. Today’s ruling came despite the request of prosecutors, and despite a new bail package proposed by the government that included a $10 million bond, co-signed by nine people, including members of the DiPascali family.
Judge Sullivan did state that “if prosecutors made a sealed filing to the court detailing the ‘quality’ of cooperation Mr. DiPascali could provide, he would be willing to reconsider the request.”