Posted on 03/11/2009 11:46:00 PM PDT by TigerLikesRooster
After Plea Hearing, Madoff Could Go Directly to Jail
By DIANA B. HENRIQUES
When Bernard L. Madoff arrives in federal court on Thursday to plead guilty to operating a vast 20-year Ponzi scheme, there is a strong chance that he will not return home.
Under a $10 million bail agreement, Mr. Madoff has been confined to his penthouse apartment since his arrest on Dec. 11. As he was presumed innocent, the government had to persuade the court that he should not be allowed bail — something prosecutors failed to do at a bail revocation hearing in January.
But once Mr. Madoff pleads guilty, the burden shifts. His own lawyers must then persuade the court that he should remain free until his sentencing, perhaps more than two months away, or should at least have a few more weeks of liberty to put his personal life in order.
Mr. Madoff’s bail status is the biggest question mark hanging over the court hearing on Thursday, after his lawyer confirmed in court on Tuesday that Mr. Madoff intended to plead guilty to the 11 federal charges filed against him, exposing him to financial penalties and a potential prison term of 150 years.
(Excerpt) Read more at nytimes.com ...
Is this jail a maximum security Swiss castle at Davos by any chance?
Ping!
What? No more penthouse arrest?
‘Reminds me of a Frank Rich case in the works.
‘Bout time.
They ought to make him Geithner’s assistant Sec. of Treas.
Criminality doesn’t seem to be an obstacle for appointments and his scheme is exactly the same as Obama’s economic policy.
maybe when the MSM tires of Madoff they will get down to brass tacks on Othugo’s birth certificate issue. Now, that would be a NEW STORY wouldn’t it???? lolololol
Are they suggesting he won’t even get to stop at Zabar’s?
If they send him to a “camp”, rather than a prison, then it will be a grave injustice. These “camps” are about as much punishment as being sentenced to live on the set of “Barney Miller”.
Jail or “jail?”
I’d bet the farm this guy who has ruined a whole passel of folks lives will do time in at least a 4 star prison.
Ya think he’ll be in with bubba and billy bob? Ain’t gonna happen.
If I were he, the Feds would play hell trying to catch me.
If Martin Bormann could hide out in Paraguay, why not Bernie?
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