Madoff Still Free

January 12. 2009

Bernard Madoff

A judge denied the prosecutor's request to incarcerate broker Bernard Madoff, further allowing him to live in luxury, on house arrest, pending trial. Madoff is charged with committing the biggest ponzi scheme in U.S. history, with revised damages totaling between $30-$50 billion.

I think it sends a terrible message to the nation and the world, that a man who engaged in such grand scale fraud, is not locked up in prison, for the massive financial loss and ruin he has wrought. Preliminary evidence suggests he has over 10,000 victims. He should not be free.

NYC judge allows Bernard Madoff to remain free

NEW YORK—A judge has allowed Bernard Madoff to remain free on bail, rejecting a bid by prosecutors to send the disgraced investor to jail.

Madoff mailed more than $1 million in jewelry and heirlooms to family and friends over the holidays. Prosecutors said the gifts were grounds to have his bail revoked because what's left of Madoff's assets will have to be returned to burned investors.

http://www.boston.com