A judge has ruled that against revoking Bernard Madoff’s bail, meaning the disgraced investment advisor will get to stay in his $7 million Upper East Side apartment — albeit under house arrest and 24-hr surveillance — while awaiting trial.
Prosecutors had argued that Madoff should be sent to jail, after he mailed more than $1 million worth of personal items, including gold necklaces and watches, to family and friends, contravening a court order freezing Madoff’s assets.
Madoff’s lawyers contended that he simply didn’t realize that mailing the items would contravene the order.
CNBC adds:
A court hearing tentatively scheduled for Monday on the criminal charges against Madoff has been adjourned for 30 days, his lawyers said.
