What happened to Frank DiPascali? Yes, we are talking about the financier, more precisely the fraudster who served as Bernie Madoff’s employee. Yes, you read it right. You must have come across the latter’s name, who was most popularly known for his financial crimes.
Haven’t you started watching the documentary based on Bernie’s life? It is titled as- Madoff: The Monster of Wall Street, released on 4 January 2023.
Well, it’s been several years that Frank died. But, not everyone is aware of the cause. Before getting into the details of Frank DiPascali’s death, let’s have a look at who he was.
Talking about Frank DiPascali, he was involved with the directorialship of options trading. In addition to that, he also used to serve as the CFO of the company.
What was the Madoff investment scandal? It was all about the stock and securities fraud. How was Frank involved in this? He used to manipulate clients regarding investing money as if they were creating their wealth. But, in real, they lost their money. Following this, the company took away billions of dollars from the innocent ones.
Frank DiPascali worked with him as the key lieutenant for thirty years. But, it was revealed that he knew about Bernie Madoff’s business turned out as the Ponzi scheme, for two decades.
Because of his involvement in the daily operation of the scandal, Frank was convicted. Still, he passed away before sentencing. How did the fraudster die? If you are looking for what happened to Frank DiPascali, here is what we know.
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What Happened To Frank DiPascali? All About His Death
It was on 7 May 2015, Frank DiPascali passed away. Born in 1956, the financier was then 58 years old. His death was considered premature as it caused too early of his age and that too having no relation of being convicted because of his guilty. What went wrong?
Do we curse fraudsters? We are unsure if we should or we shouldn’t. But, we do end up doing it, especially the victims. Right?
Along with Bernie Madoff, Frank DiPascali manipulated billions of dollars. Briefly, we may call him a financial criminal. Do you believe in Karma? It seemed like Karma played it’s role. Well, keeping the assumptions and theories aside, let’s get into how he passed away.
Frank DiPascali died after struggling with the life threatening disease. Yes, we are talking about cancer. It was four months before his sentencing. His lawyer didn’t share any details of the death cause though.
It was later reported that Frank DiPascali passed away from a Stage 4 cancer. It was pretty serious and uncurable. And the worst part was, he found it just a couple of months before his death.
Frank DiPascali was Bernie Madoff’s “right-hand man.” What was the total amount of fraud? It was a whopping $65 billion. Wait, what? Unfortunately, Yes! While, Frank reportedly assisted him for $17.5 billion. It was not less either. They used old stock data for creating fake records. Briefly, it was dangerous.
Another worst part? Frank DiPascali was aware of his criminal deeds. On this note, he once said, “I knew it was criminal, and I did it anyway.” Well, it was not just a harsh misconduct, but also unapologetic.
To be more precise about the cause of Frank DiPascali’s death, it was lung cancer. Little did he ever think that he had to spend the last days of his life by cooperating with the investigators, pleading guilty for his long-time misconduct.
What’s your say on Frank DiPascali’s death? Also, to know more about the Madoff investment scandal, make sure to watch the latest mentioned Netflix’s documentary series.
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