Madoff Aide Reveals Details of Ponzi Scheme

The New York Times reports:

Frank DiPascali was a “kid from Queens” fresh out of high school when he landed a job in 1975 with a rising star on Wall Street named Bernard L. Madoff.

On Tuesday, Mr. DiPascali stood in a federal courtroom in Lower Manhattan and admitted that, for at least the last 20 years, he had helped Mr. Madoff carry out one of the biggest frauds in Wall Street history.

Indeed, he detailed for the first time how he and unidentified others helped Mr. Madoff perpetuate the crime — using historical stock data from the Internet to create fake trade blotters, sending out fraudulent account statements to clients and arranging wire transfers between Mr. Madoff’s London and New York offices to create the impression that the firm was earning commissions from stock trades.

“I knew it was criminal, and I did it anyway,” Mr. DiPascali told Judge Richard J. Sullivan, of Federal District Court, just before pleading guilty to 10 felony counts, including conspiracy and tax evasion.

As you've probably figured out by now: Madoff couldn't have acted alone.