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MADOFF REMAINS FREE
By
Jen Chung
Published Jan 12, 2009
Modified Jan 12, 2009
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By
Jen Chung
Published Jan 12, 2009
Modified Jan 12, 2009
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According to CNBC and the Dow Jones Newswire, Federal Magistrate Ronald Ellis has decided not to revoke bail for financial scammer Bernard Madoff. You can read the ruling here (PDF), but the basic gist is that Ellis doesn't think the DOJ proved its point that Madoff is a flight risk. Bloomberg News reports, "Ellis imposed new bail conditions, including ordering Madoff to compile an inventory of all items he has in his home and barring him from transferring property." Re: "barring him from transferring property"—shouldn't that have been a restriction when Madoff was first arrested?
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Bernard Madoff
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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