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U.S. v. Bernard L. MadoffJudge Orders Madoff Confined to Manhattan ApartmentWith Home Electronic Monitoring Ruth Madoff Surrenders Passport December 17, 2008 |
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Accused Wall Street investment manager Bernard 'Bernie' Madoff was ordered by a judge to remain confined to his Manhattan apartment with an electronic monitoring device, and post bail by agreeing to a $7 million confession judgment. What does that mean? If the accused Ponzi-scheme defendant tries to flee, he and his wife would lose their Manhattan apartment, their Montauk beachfront house on Long Island, and their Palm Beach, Florida property. In addition to staying put in his penthouse apartment between 9 p.m. and 7 a.m., Bernard and Ruth Madoff also surrendered their passports. |
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