Judge Sets Bernard Madoff Free on $10 million Bail
A New York judge ruled that Bernard Madoff will remain under house arrest in his Manhattan apartment early Monday afternoon.
Madoff, who remains free on a $10 million bond, was arrested last month for allegedly running a $50 billion Ponzi scheme.
You can check out our Madoff channel, which has up to the minute news on the ongoing scandal, as well as links to existing stories and media.
Bernard Madoff, former NASDAQ chairman of the board and founder of Bernard L. Madoff Investment Securities LLC, was arrested December 12 on charges of fraud for his involvement in a $50 billion Ponzi Scheme alleged to have taken place over the past few decades.
Tag your Madoff Investments Ponzi Scheme Scandal stories, images, media and updates, "Madoff" to see them featured here.
U.S. Magistrate Judge Ronald Ellis in Manhattan today said Madoff, arrested last month for running an alleged $50 billion Ponzi scheme, may continue to live under house arrest in his Manhattan apartment on the Upper East Side. Ellis imposed new conditions, ordering Madoff to compile an inventory of all items in his home and barring him from transferring property.
Judge Ronald Ellis denied prosecutor Marc Litt's attempts to imprison Mr Madoff, instead imposing stronger bail conditions and ordering the 70-year-old fund manager to complete an inventory of all the items in his home to stop him from removing any assets.