Madoff: From the Penthouse ... to the Penthouse
Prosecutors were making second attempt to have Madoff's bail revoked
By JONATHAN DIENST
Updated 5:11 PM PDT, Wed, Jan 14, 2009
Bernie Madoff has won again. He arrived back home to the Upper East Side Wednesday where he will remain on so-called penthouse detention.
Madoff, who is accused of running a $50 billion Ponzi scheme, walked out of federal court earlier in the day after his lawyers again beat back federal prosecutors efforts to have him held in a cell at The Metropolitan Correctional Center instead of his 7 million dollar apartment.
In was a packed 23rd floor courtroom where Judge Lawrence Mckenna rejected prosecutors appeal saying they failed to show why 24 hour lockdown with security guards standing watch at his home is not sufficient for now.
Prosecutor Marc Litt told the court Madoff’s actions “speak louder than words.” The government believes Madoff should be in jail because he sent more than $1 million in jewelry and gifts to family and friends over the holidays – proving he can’t be trusted.
“There’s no set of conditions short of detention that can prevent harm to the community, “ Litt said.
Defense lawyer Ira Sorkin told the judge that the extreme restrictions on Madoff – including a search of all his mail -- make it "close to impossible to dispose of anything valuable."
It was prosecutors second failed attempt this week to have Madoff’s bail revoked.
Victims who have lost hundreds of millions of dollars in Madoff’s alleged ponzi scheme are furious he is allowed to remain in his luxurious penthouse. Lawyer Barry Slotnick, who represents 15 of Madoff’s victims, said “my clients want to see Mr. Madoff in jail and in pain.”
Among Madoff’s possible victims are several charitable organizations. New York Attorney General Andrew Cuomo said on Tuesday “We have a particular interest in overseeing charities and it’s a matter we are investigating.
Also on NBCNewYork.com:
+ Shopaholic Dies in Avalanche of Clothing
+ Obama to His Girls: "What I Want for You & Every Child"
+ Acai Berry Faithful Preach Juice Product
+ Underground With Their Pants Down
+ 22-Year-Old's Virginity Auction Bids Hit $3.7M
+ ConEd Execs Accused Of Taking $1M in Kickbacks
Even More Cool Stuff:
+ Follow NBCNewYork.com on Twitter!
+ Going To The Inauguration? We Want You!
Copyright Associated Press / NBC San Diego
First Published: Jan 14, 2009 12:28 PM PDT on NBC New York
You Might Like
You have 2000 characters left
