U.S. to File Charges Against DiPascali, Ex-Madoff CFO

Bloomberg reports:

Frank DiPascali, chief financial officer at Bernard Madoff’s investment advisory business, will be charged by the U.S. in connection with what the government called a $65 billion Ponzi scheme.

DiPascali has been under investigation by federal prosecutors in New York since Madoff was arrested Dec. 11. The government’s notice of intent to file an information didn’t specify the charges. The government’s notice, signed two days ago, said that DiPascali will waive the right to an indictment.

The use of the information instead of an indictment means DiPascali agreed prosecutors needn’t present evidence against him to a grand jury. It is often used when a defendant agrees to admit guilt and cooperate with authorities in exchange for leniency. Prosecutors filed a similar document in March, before Madoff pleaded guilty to the charges against him.