Posted on 12/19/2008 6:26:04 PM PST by NormsRevenge
NEW YORK (AFP) – Disgraced Wall Street investment baron Bernard Madoff was placed Friday under 24-hour house arrest in a toughening of his bail conditions.
Federal court magistrate Gabriel Gorenstein ordered Madoff, 70, to be "subject to home detention at his Manhattan apartment, 24 hours per day, with electronic monitoring," a court document said.
In addition, Madoff, allegedly the mastermind of a 50 billion dollar Wall Street fraud, will be placed under the eye of a private security firm monitoring his apartment door.
Madoff's wife has been ordered to pay for the cost of the firm, which will be able to communicate directly with the FBI.
The measures appeared aimed not just at preventing Madoff fleeing, but for his protection. The court document referred to the need to "prevent harm or flight."
(Excerpt) Read more at news.yahoo.com ...
He needs to be put in jail asap. He won’t live long enough behind bars as it is to begin to pay back what he stole.
I never understood why he received bail, much less being allowed to run around all day while supposed to be under house arrest.
Initially he was only supposed to be indoors at night. Now the judge decided 24 hours a day. Myself, I suspect contributions were made.
What are they afraid of? It’s not like Lansky is invested and still around to kill him for it.
Oh if I forget to cross a t on my taxes i’m in jail...what hypocrites!!!!
They may be hoping that some poor crazed soul will take their revenge on Madoff, there by closing the case and hiding all those who were in just as deep as Bernie.
I don't think there is anyway to protect him are his family and I for one would hope no one tries.
Remember what happened to Ken Lay. The government was ready to take its part of the settlement and then he died.
Probably. A NY Congressman came out really ticked about him getting bail at all (yesterday) and today it was modified... probably decided not a good idea to draw much more attention to this.
Truthfully, I am surprised that he’s still alive.
More like a response to the outrage by the public that he is confined to his penthouse rather than a prison cell.
Are the windows in his condo secured ? With what he’s facing, to preserve something for his wife/kids, he could jump.
let him jump save some time
If he jumped, he would never be a convicted felon and all his assets would be untouchable and retained by his wife or other heirs. Not sure if suicide changes that.
When Kenneth Lay, of ENRON infamy, died of a heart attack after being convicted, his conviction was overturned and his wife got to keep EVERYTHING. Thier assets were untouchable.
Wow! did’nt know that unbelievable!
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