Madoff Out On Bail: Gets Curfew, Monitoring Bracelet At Hearing (VIDEO)

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NEW YORK — Disgraced investor Bernard Madoff made an appearance at the federal courthouse in Manhattan to complete paperwork for his bail after a judge set new conditions for release, including a curfew and monitoring bracelet.

Madoff, wearing a baseball cap and a black jacket, said nothing to reporters as he walked out of the building and drove away in a sport utility vehicle. He was at the courthouse to sign over his Upper East Side apartment and his homes in Palm Beach and the Hamptons for his $10 million bond.

Madoff has already surrendered his passport, and now will be required to be at his Manhattan apartment from 7 p.m to 9 a.m. His wife was required to surrender her passport as well.

Part of Madoff's bail conditions also required that he find people to co-sign for him, and his wife and brother had already done so. Madoff had been required to find two additional co-signers to vouch for him, but with the scandal swirling around him, he was unable to do so.

The judge responded by modifying the bail package, and gave lawyers until next Monday to come up with additional paperwork.

Madoff was arrested on charges that he carried out what prosecutors say he called a $50 billion Ponzi scheme that has left investors around the world in financial ruin.

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Comments

[CVignone]

How much of the $50Billion is squirelled away waiting for him and/or his agents to lay their hands on?

[wingnutgator]

My grandparents lived through the depression. They did not have a lot of money, but they owned a house free and clear and any money they had was always in the bank in an insured account. I used to think they were old fashioned and silly with their money. I am now convinced they were wise and am trying to live more like that. I have owned every sector in the market and scores of mutual funds over the last 20 years. After riding the up and down roller coaster, I have concluded it would have been better to put the money in a 30 year T bill. Wall street is no different than Vegas.

[lunchlady]

This guy and the general financial disaster is going to lead to loss of business for all financial managers. The trust and financial health of US citizenshas been severely violated by greedy jerks who are still sitting on huge piles of money.
The arrogance and entitlement and self-enrichment of those working in the financial industry is breathtaking. I've always found it shocking, even when the economy was doing better.

[Pacojam]

Maybe we don't need "financial managers" because their track record is worse than the average investor as well as the s&p 500. Maybe it is just a made-up profession that just leeches off of people.

[treebu]

What happens when a bank robber gets arrested with the money in hand? He goes to jail and the money is returned to the bank. Why does this not apply to the bankrobbers such as Bernanke and friends. Can't we freeze their assets until we find out who made off with what?

[BLDEBRIS]

If he were accused of a drug crime, all his assets would be frozen with nothing to use for bail. His assets should be frozen and his ass thrown out on the street or in jail.

[treebu]

That's what I'm saying but for every bankrobber to date, that would probably include the republicans left standing and quite a few sorry to say- Dems. Follow the money these guys and gals are so brazen it's probably right there in plain site.

[daRoach]

I don't get it? Madoff is accused of a Ponzi-scheme of 50 billion dollars. So shouldn't all his assets be "frozen", including his home, apt, etc? If I "frauded" 50 billion, 10 million should be easy to find!

[Syncoptic1]

Ask Cheney if we can waterboard him. Maybe that would deter future behavior of this ilk by these sorts of animals.

[redlinemetro]

Madoff: I ripped off millions and all I got was a lousy bracelet for Christmas.

[Wolf Larsen]

Don't feel bad.....Ma­doff got an anklet....­..

[JerryKCDC]

The SEC was asleep at the switch, maybe worse than FEMA. As today's NY Times Op-Ed points out, this Ponzi scheme was only a little more dishonest than the hedge fund industry. This whole administration and the Wall Street Masters of the Universe should all be rounded up and sent to internment camps for 20 years.

[QuestionEveryone]

That's because this guy had alot of friends in DC, like Schumer and Clinton..h­e gave lots of money to the DNC...

[WilliamL]

His ass sd. be in jail and ALL assets taken and invested in an effort to correct his mess.

[Pacojam]

exactly! Those houses are in no way his. Everything he has was paid for by stolen money. Now, where's the other $49,500,00­0,000.00?

[0emissions]

Why is it that these crooks always show up in an SUV?

[lunchlady]

Part of their greedy attitude. Only little people have to conserve gas or worry about their carbon footprint. Also need room for their big bodyguards.

[Olderandwiser55]

Madoff is charged with ONE count and OJ gets 12?

[Larry11215]

Exactly...­. Madoff should be in PUBLIC HOUSING; i.e. the penitentiary. People like him undermine the entire social fabric of this country much more even than a murderer.

He did NOT act alone... the whole family should be thrown in the can until this gets sorted out.

Passport or no passport - he is a flight risk.

[pointyheadprodigy]

Due to his admission of guilt, he should have already lost his real estate to pay back his victims and he should be in PUBLIC HOUSING! And his neighbors should keep an eye on him and Mr. Madoff should be forced to pay them well for their babysitting efforts.

[eqactor2]

Does anyone see the irony in his name? that Madoff "made off" with $50 billion?

[Wolf Larsen]

This guy really needs to become the next pole polisher at the nearest federal penitentia­ry......