Court May Tell Madoff to Go Directly to Jail

Ponzi master to plead guilty today, bail could be revoked
By Kevin Spak,  Newser Staff
Posted Mar 12, 2009 6:19 AM CDT
Bernard Madoff exits Manhattan federal court, Tuesday, March 10, 2009, in New York.   (AP Photo/ Louis Lanzano)
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(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.

“There is no reason I can think of why he should remain at liberty,” said an ex-prosecutor representing some of Madoff’s clients. “With a lifetime in prison ahead, his risk of flight increases by a factor of infinity.” Madoff is pleading without a plea bargain, which means he’ll face a potential prison term of 150 years, on top of financial penalties.