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Afraid of jail, Madoff wants bail (again)

by Brad A. Greenberg

March 13, 2009 | 5:12 pm

Breaking news from Reuters:

Lawyers for confessed swindler Bernard Madoff on Friday appealed the decision by a U.S. Judge to revoke his bail when he pleaded guilty to running the biggest fraud in Wall Street history, a court official said.

No details were immediately available of the filing in the U.S. Court of Appeals for the Second Circuit in New York, one day after Madoff, 70, admitted to running a worldwide fraud involving as much as $65 billion over many years.

At Thursday’s plea proceeding, U.S. District Court Judge Denny Chin revoked Madoff’s $10 million bail, removing him from house arrest in his luxury Manhattan apartment and sending him to jail pending sentencing on June 16.

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