Judge: Madoff Not A Flight Risk

Prosecutors Asking To Jail Disgraced Money Manager Didn't Make A Case For Revoking Bail, Court Says

(AP)  Bernard Madoff won the latest round in his fight with prosecutors over his bail package Wednesday as a judge ruled he can remain free, brushing aside arguments by the government that the money manager needs to be in jail because he cannot be trusted.

The judge ruled prosecutors did not make a compelling argument that Madoff is a danger to the community or a flight risk - the two considerations in deciding whether to grant bail.

Authorities say Madoff has said he ran a $50 billion Ponzi scheme, paying investors with money raised from new clients.

Madoff did not speak or show any emotion during the hearing, although he privately conferred with his lawyers on a couple occasions. He left the courthouse and returned to his $7 million Upper East Side penthouse, where he has been under house arrest and under the watch of armed guards around the clock. His outgoing mail is also being searched to ensure he doesn't try to pass along any assets that could be used to reimburse burned investors.

Defense lawyer Ira Sorkin told the judge that such extreme restrictions make it "close to impossible to dispose of anything valuable."

"I think the chances of Mr. Madoff fleeing at this point are as close to nil as you can get," he said.

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The government believes he should be jailed because he sent more than $1 million in jewelry and gifts to family and friends over the holidays.

Prosecutor Marc Litt said the gifts are further proof that Madoff "cannot be trusted under any set of conditions short of detention."

But the defense said the government is using "inflammatory rhetoric and hyperbole" to make a flimsy argument, and called the gifts an innocent mistake.

Investors who lost billions to Madoff are furious that he has been allowed to remain on free on bail while being accused of such a sweeping fraud.

A magistrate judge rejected the original request that Madoff's bail be revoked on Monday, and prosecutors appealed, setting up Wednesday's hearing.

[harbinger09]

I''m really surprised that one of the many swindled investors has not gone completely off their rocker and tried to kill Madoff by now--especially since it appears justice is not likely to be done via the court.

[hober_mallow]

All of the news stories refer to ''the judge''.

Judge Who ??

Is this judge elected or appointed?

If appointed, by whom?

If we stick this guy in jail, I would bet he would come up with all sorts of "health" problems.

[lvdragonlady-2009]

I firmly believe that there is something between Madoff and this judge. Has anyone looked into a connection of some sort?

[secundus2]

Of course the judge ruled as he did. "Off with his head" is not a legal argument. If anything, it pushes a judge in the opposite direction.

[mercurygrand]

$50 billion Ponzi scheme and the judge is going to let Bernard Madoff live high on the hog off other peoples money. Lock the judge up! Remove the fool from the bench. Iam sure Madoff had a plan in place if he gets caught. He could delay this case in court til he dies of nature causes. He also could run away, disappear. NO JUSTICE HERE!

[bobnjersey]

[But the defense said the government is using "inflammatory rhetoric and hyperbole" to make a flimsy argument, and called the gifts an innocent mistake. ]

no problem ... lets just call his incarceration in riker''s a short vacation to ''the islands''.