Madoff's Ex-Finance Chief to Give Up NJ Home

Monday, Feb 1, 2010  |  Updated 7:00 PM EDT
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Madoff's Ex-Finance Chief to Give Up NJ Home

AP

As Fairfield town officials deal with losing $42 million in municipal pension money it invested with Madoff, they are turning all Law and Order and have started their own criminal investigation.

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Bernard Madoff's former finance chief has agreed to give up his New Jersey home so it can be sold for the benefit of those cheated by his jailed boss.

A document posted in the file of Frank DiPascali Monday showed that he and his wife have agreed to give up the home in Bridgewater, N.J., along with its appliance, electronics and furnishings. It will be sold by the government.

The 52-year-old DiPascali pleaded guilty in August to helping Madoff's multi-decade Ponzi scheme that cost thousands of people billions of dollars.

DiPascali has been cooperating with investigators probing who knew about Madoff's Ponzi scheme before he revealed it in December 2008.

Madoff is serving a 150-year sentence.

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