Madoff Now Under 24-Hour House Arrest
Risk of 'harm or flight' lands guards outside accused's NYC pad
By Will McCahill,  Newser Staff
Posted Dec 19, 2008 5:32 PM CST
Pawnbroker Levi Touger has made loans to some of the well-heeled Palm Beach investors caught in the $50 billion Madoff scam.   (AP Photo)
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(Newser) – A New York judge placed accused fraudster Bernard Madoff under 24-hour arrest today, Bloomberg reports; a private security firm will also keep watch on his Upper East Side apartment after federal officials said there was a risk of “harm or flight.”  Madoff’s attorney would not say if the 70-year-old, charged with conning investors out of $50 billion, had been threatened.