Deputy Bernard Medoffa, the creator of the largest in the history of U.S. financial pyramid, Frank DiPaskali pleaded guilty to 10 counts and the court gave new details of the implementation of a fraudulent scheme, developed by his boss, writes the newspaper Financial Times.

All of this was fraud. All of this was bogus- he said.

DiPaskali, agreed to cooperate with the investigation, told the court that he, Medoff, and several other people made millions of pages of forged documents, regularly deceived investors and regulators, and the transfer of funds to London and back to confuse the scent control bodies.

charges for 10 items, which include allegations of collusion, fraud in securities transactions, perjury, shelter from taxes and falsification of documents, include a penalty of imprisonment for the term of 125 years. Thus, DiPaskali facing life imprisonment, but the prosecutor may offer significantly reduce the time, if it is satisfied with the help of the defendant's investigation.

Nevertheless, Judge Richard Sullivan, surprised prosecutors and lawyers DiPaskali, ordered to take him into custody in the courtroom.

Lawyers DiPaskali plan to seek his release pending charges.

The judge has not yet appointed a date for sentencing, saying that prosecutors must provide all the materials of the investigation by 15 May next year.

Medoff at the end of June 2009 was sentenced to 150 years in prison.

scam Medoffa, a veteran Wall Street, which lasted from 80's, they created through the scheme took about $ 170 billion of new money investors used them to pay interest on old deposits, the total falsification was carried out of all the documents that established the investment funds.

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