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Feds want bail revoked as Madoff mails $1 million in bling out of town

by The Web Guy

January 5, 2009 | 6:11 pm

From the AP:

Prosecutors in New York are asking a judge to put Bernard Madoff behind bars without bail.

They told the judge today that the disgraced financier had violated bail conditions by mailing about a million dollars worth of jewelry and other assets to relatives.

Madoff’s lawyer described the items as heirlooms, and said they weren’t significant assets. They were sent to Madoff’s children and to friends who were vacationing in Florida.

He also said Madoff is “not a threat to the community,” and that there’s “no danger he’s going to flee.”

Not a threat to the community, eh?  It is to laugh.

 

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The ripple effect of the Madoff deception.

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