Bernard Madoff's right-hand man during decades of massive fraud on Wall Street was to plead guilty Tuesday to unspecified charges.
Frank DiPascali, Madoff's top financial aide, has waived his right to put his case before a grand jury and "will plead guilty to a criminal information," prosecutor Lev Dassin said in a letter Friday to a federal judge in
The arraignment was scheduled for 3:00 pm (1900 GMT).
DiPascali was chief financial officer at Madoff's investment business, Bernard L. Madoff Investment Securities, and is believed to have had intimate knowledge of the operation.
Prosecutors would not announce the charges to which DiPascali was due to plead guilty.
But the fact he apparently decided not to fight his case could indicate he has agreed to cooperate with the government in return for lesser charges, experts say.
So far, only Madoff and his accountant, David Friehling, have been charged in what may be the biggest fraud in Wall Street history -- a multi-billion dollar scam whose victims included A-list celebrities and major charities.
Analysts say prosecutors may eventually target others close to Madoff, such as his brother Peter Madoff, chief compliance officer at the fraudulent firm, as well as his sons Andrew and Mark.
Madoff pleaded guilty to all charges, but indicated that he worked alone. What remains unclear is to what extent those employed in his firm knew they were committing fraud.
