Monday, January 12, 2009

A possible plea bargain for Madoff?

It's hard to imagine, but apparently there are negotiations going on for a plea deal for Bernie Madoff! And the government failed in its arguments that his bail should be revoked on the grounds that he sent $1 million worth of jewelry to family members and had $173 million worth in checks in his drawer ready to send off.

"Prosecutors had asked the court to revoke Mr. Madoff’s $10 million bail, secured by various family homes held in his wife’s name, after he violated a court-ordered asset freeze by mailing about $1 million in expensive watches and jewelry to family and friends on Christmas Eve.In addition to the jewelry that was sent out, prosecutors said, Mr. Madoff had plans to transfer $200 million to $300 million of investors’ money to family members and friends. When authorities searched Mr. Madoff’s office desk, they found $173 million in signed checks ready to be sent."

1 comment:

  1. unbelievable. apparently, the time for change hasn't been applied to Madoff.