Madoff Mails $1M in Bling; Feds Pounce

By Harry Kimball,  Newser Staff
Posted Jan 5, 2009 6:11 PM CST
Disgraced financier Bernard Madoff leaves U.S. District court.   (AP Photo)
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(Newser) – Prosecutors are fuming after Bernard Madoff mailed more than $1 million in jewelry to his sons on Christmas Eve, the New York Post reports. The Ponzi schemer was dragged into court today but left under house arrest pending written arguments. Madoff's bail agreement allows such a gift, but an SEC probe doesn't. Madoff's lawyer argued that the mailed bling amounted to small change.