Madoff Checks Found At Arrest Totalled $173 Million

Prosecutors arguing that alleged $50 billion scammer Bernard Madoff should be put in jail immediately say that when Madoff's desk was searched following his arrest, investigators found approximately 100 signed checks totaling more than $173 million "ready to be sent out".

"The only thing that prevented the defendant from executing his plan to dissipate those assets was his arrest by the FBI," prosecutors say. "The defendant's recent distribution of jewelry and watches demonstrates a continuing intention to benefit those close to him to the detriment of his victims."

Prosecutors asked Judge Roland Ellis earlier this week to put Madoff in custody after they say Madoff violated the conditions of his bail agreement when he and his wife sent multiple packages worth over $1 million containing valuables such as watches, jewelry, and cufflinks to relatives and friends.

Read the whole story here.

Comments

[Oonagh]

Why is this man not in a jail..... That's right... if you steal two thousand dollars you are thrown into jail... if you steal millions you get an ankle bracelet.... He is living in the lap of luxury because he has money, but it is the money he stole .... this does not make sense.

[WorldGoneWild]

The SEC and Wall Street learned NOTHING from the Enron and WorldComm scandals.