Frank DiPascali—Bernie Madoff’s right-hand man, who federal investigators flipped as part of a plea bargain in 2009—died on Thursday of lung cancer, the New York Daily News reports. DiPascali was 58

Bernie Madoff's ex-finance boss Frank DiPascali, former millionaire, was released yesterday on $10 million bail. He plead guilty to fraud and whatnot. More importantly, what the hell is he wearing, nurse shoes? Only Jerry Seinfeld can wear shoes that white.

Victims of Bernie Madoff have another $2 million to spread around. Three boats owned by the imprisoned fraudster were auctioned off in Florida yesterday and brought in about $1 million; a sport-fishing yacht owned by Bernie's former sidekick, Frank DiPascali, reeled in another $950,000. And Ruth Madoff's convertible found a new owner, too: The 1999 Mercedes with 12,000 miles on it sold for $30,000. [Bloomberg]

As if it wasn't bad enough that Bernie Madoff investors were handing over their money to a con artist to manage, it seems they were also putting their trust in a drug-addicted gun freak, too. When Bernie Madoff's right-hand man Frank DiPascali pleaded guilty earlier this week to charges he helped engineer the $65 billion scheme and he agreed to cooperate with prosecutors, the deal also guaranteed DiPascali that the feds wouldn't come after him for the "use of controlled substances prior to 1992" and "for possessing illegal firearms up until last Friday." Between this news and the revelation that Bernie had a 20-year affair that no one knew about, the made-for-TV Madoff movie is getting spicier by the day, isn't it? [NYP, WSJ]

Yesterday Frank DiPascali, one of Bernie Madoff's closest aides since the mid-1970s, pled guilty to 10 felony counts and in the process offered up details on how he helped Madoff screw hundreds with their multi-billion dollar swindle.

Bernie Madoff's right-hand man, Frank DiPascali, will joining his former boss behind bars in the near future. The former chief financial officer of Madoff's investment firm, DiPascali pleaded guilty this afternoon to all the counts against him, including securities fraud, falsifying records and international money laundering, as part of a deal with prosecutors. "Mr. DiPascali said at the plea hearing that the transactions were "all fake. It was all fictitious. It was wrong, and I knew it was wrong at the time." [WSJ]

• The U.S. economy slowed sharply in the third quarter, according the new figures released by the Commerce Department this morning. [MW]
• Lehman Brothers has won bankruptcy court approval to sell its investment management assets, including Neuberger Berman. [DB]
• What did banks do with their bailout billions? They're not saying. [AP]
• A record number of M&A deals were cancelled in 2009. [FT]
• Investigators looking into the Madoff mess continue to focus their attention on a key Madoff lieutenant, Frank DiPascali. [WSJ]
• A Madoff investor has filed suit against the SEC, the first attempt by a victim of the scheme to go after regulators. [Reuters]