Cache of Madoff Evidence Found in Warehouse

Fraudster will wait in jail until June sentencing

(NEWSER) - A federal appeals court today denied Bernard Madoff’s request to be released on bail until his June sentencing date, the New York Daily News reports. “The defendant’s age and exposure to imprisonment are undisputed, and the court did not err in inferring an incentive to flee from these facts,” the three-judge panel said in confirming that the 70-year-old Madoff, facing a 150-year sentence, was a flight risk. More»

(NEWSER) - Bernard Madoff’s lawyer argued today that the financier, who has pleaded guilty to a $65 billion Ponzi scheme, should be free on bail until June sentencing, the New York Times reports. Ira Sorkin cited past precedent in similar cases, but the prosecution said Madoff has incentive to flee—and one dubious appeals judge noted that he has ample “mechanism for flight.” More»

Ponzi master to plead guilty today, bail could be revoked

(NEWSER) - Bernie Madoff will head to court today to plead guilty to all 11 charges against him, and there’s every chance he won’t be going home afterward, the New York Times reports. The big question hanging over today’s hearing is whether the court will revoke Madoff’s bail. Once he pleads guilty, Madoff won’t be presumed innocent anymore, and his lawyers will have to make the case that he should go free until sentencing. More»

Judge doesn't revoke bail

(AP) - A New York judge ruled today that Bernard Madoff may 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. More»

Prosecutors charge he violated bail by scattering assets

(NEWSER) - Accused Wall Street swindler Bernard Madoff is enjoying what could be his last hours of luxury inside his palatial $7 million New York apartment after prosecutors demanded his bail be revoked for sending some $1 million in jewelry to family and friends, Reuters reports. Madoff is due in court Thursday to hear whether a federal magistrate will revoke his $10 million bail. Prosecutors say he sent the jewelry so it could not be seized for restitution, in violation of a court order freezing his assets. More»