BUSINESS
04/11/2009 05:12 am ET Updated May 25, 2011

Madoff Could Go Directly To Jail After Plea Hearing

When Bernard L. Madoff arrives in federal court on Thursday to plead guilty to operating a vast 20-year Ponzi scheme, there is a strong chance that he will not return home.

Under a $10 million bail agreement, Mr. Madoff has been confined to his penthouse apartment since his arrest on Dec. 11. As he was presumed innocent, the government had to persuade the court that he should not be allowed bail -- something prosecutors failed to do at a bail revocation hearing in January.

Read more on New York Times