Frank DiPascali, implicated as Bernie Madoff’s right-hand man in the $65 billion dollar fraud, has finally been granted bail.
Judge Richard Sullivan agreed on Thursday to release DiPascali (pictured), after hearing arguments on his behalf from both the prosecution and defense teams. The US Attorney’s office (SDNY) has been supporting DiPascali’s request for bail so that he can better cooperate with the FBI in tracking other Madoff relatives and associates involved in the scheme. To date, however, Judge Sullivan had repeatedly refused to grant bail to DiPascali.
According to NBC New York, DiPascali was released on a $10 million bond secured by nine other people including DiPascali’s sister who put up her Bridgewater, New Jersey home. DiPascali, who is facing up to 125 years in prison, will also be fitted with an electronic monitoring device to try to ensure he does not flee.
