Breaking - Judge Allows Madoff To Remain Free On Bail
NEW YORK — A judge has allowed Bernard Madoff to remain free on bail, rejecting a bid by prosecutors to send the disgraced investor to jail.
Madoff mailed more than $1 million in jewelry and heirlooms to family and friends over the holidays. Prosecutors said the gifts were grounds to have his bail revoked because what’s left of Madoff’s assets will have to be returned to burned investors.
The anxiously awaited decision puts furhter restrictions on Madoff, including forcing him to come up with a list of items at his apartment and allowing a security firm to check on the items.
Defense lawyer Ira Sorkin says the “the opinion speaks for itself and we intend to comply with the judge’s order.”
Madoff’s lawyers said the gifts were an innocent mistake and said he is neither a danger to the community nor a threat to flee.
(AP)
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