US financier Madoff to remain free on bail
Tuesday, January 13, 2009 A federal court in New York, New York ruled Monday that American financier Bernard Madoff can remain free on a US$10 million bond. Madoff faces charges of securities fraud in case that may reveal losses as large as US$50 billion. He was originally arrested on December 11, 2008. Federal prosecutors had argued that Madoff had violated terms of his bail by mailing valuables to relatives from his Manhattan apartment, where he is under house arrest. Judge Ronald L. Ellis ruled that, “The government fails to provide…
Read More