01/16/2009 05:12 am ET | Updated May 25, 2011

Madoff Tries To Stay Out Of Jail As Probe Widens

BOSTON/NEW YORK - Bernard Madoff, the longtime Wall Street executive accused of cheating investors worldwide out of $50 billion, scrambled to find relatives or friends to guarantee his bond on Tuesday and keep him of jail.

In Massachusetts, where the disgraced investor long cultivated a loyal group of wealthy individuals, the state's chief securities regulator subpoenaed Bernard L. Madoff Investment Securities and Cohmad Securities Corp, a firm that marketed Madoff investment products.

Read more on Reuters

Sign up for our email.
Find out how much you really know about the state of the nation.