Self-referred to as the "Director of Options Trading" and the "Chief Financial Officer" of BLMIS, Frank DiPascali oversaw the day-to-day operations of Madoff's investment-advisory operations. DiPascali dealt with investors face-to-face on a regular basis as the executor of trades. Following his and Madoff's arrests, it was found DisPascali had enacted no trades in over a decade. He also claimed to be the Director of Madoff's London branch, Madoff Securities International Limited, however further investigation confirmed he was never registered as such. His salaries exceeded $2 million annually and went so far as to open a dummy account with BLMIS in order to withdraw $5 million in investors' money, he having never made a contribution. DePascali took concerted efforts to avoid questioning following Madoff's arrest. In August of 2009, he pled guilty to 10 federal felony charges including conspiracy, securities fraud, mail fraud, wire fraud, perjury, income tax evasion, falsifying books and records, and money laundering. Facing 125 years in federal prison and over $170 billion in forfeitures as restitution to affected investors, DiPascali agreed in federal court to provide names and help recover funds lost in the Ponzi scheme. His sentencing would be pushed back six years until his death from lung cancer in 2015.
