A prosecutor says disgraced financier Bernard Madoff violated bail conditions by mailing about $1 million worth of jewelry and other assets to relatives. The prosecutor wants him jailed without bail.
Assistant U.S. Attorney Marc Litt made the request to revoke Madoff’s bail at a hearing in federal court on Monday. Madoff has been under house arrest.
There was no immediate decision on the government’s request.
Madoff’s lawyer, Ira Sorkin, described the items as heirlooms that included cufflinks and antique watches. Sorkin said they were not significant assets.
The 70-year-old former Nasdaq stock market chairman is accused of duping investors out of as much as $50 billion in a giant Ponzi scheme.
Madoff, who was arrested Dec. 11 on securities fraud charges, owns yachts and mansions in New York’s Hamptons and Palm Beach, Fla.
(Source: Associated Press)
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5 Responses
Let Madoff have Rubashkin’s cell & let Rubashkin go home….
mr, m has every right to give his personal belongings to his blood relatives by law.
this man is no more guilty than bloglavich the
governor of chicago.
who really should be in jail.whose out here partying like it,s 1999.
he acts more like john gotti to me.
the gov of chicago that is.
mr. madoff is not breaking any laws. except one his a Jew.
It would have been better had the Arab countries invested with him instead of the Jewish charities and busineses that did.
3, I’m not so sure about that.
#2
governor of chicago????
Chicago is a city.
He’s the governor of the State of Illinois.