Skip to comments.NYC judge allows Madoff to remain free on bail
Posted on 01/12/2009 9:40:48 AM PST by BGHater
NYC judge rules that Bernard Madoff can remain free on bail in Manhattan penthouse
A judge has allowed Bernard Madoff to remain free on bail, rejecting a bid by prosecutors to send the disgraced investor to jail.
Madoff mailed more than $1 million in jewelry and heirlooms to family and friends over the holidays. Prosecutors said the gifts were grounds to have his bail revoked because what's left of Madoff's assets will have to be returned to burned investors.
The anxiously awaited decision puts furhter restrictions on Madoff, including forcing him to come up with a list of items at his apartment and allowing a security firm to check on the items.
Defense lawyer Ira Sorkin says the "the opinion speaks for itself and we intend to comply with the judge's order."
(Excerpt) Read more at finance.yahoo.com ...
Will Bernie now mail some jewelry to the judge?
Are there, now?
Yes, it is amazing what money will buy, in spite of the fact it is CROOKED MONEY. Makes no difference — it smells the same, looks the same, and buys the same.
Last night at a dinner I heard someone badmouthing Asian countries for their corrupt business culture — I added we are rapidly catching up. Corruption is the word of the day now in America. Sad is it not?
And now look what this country is about to put in the White House?? Corruption? Baby, you ain’t seen nuttin’ yet!!!!
Why not! He is the next Commissioner of the Social Security Administration. He can’t do all this humanitarian efforts for the new Administration from be hind bars.
First act under the new Administration is the merger of this bureaucracy with Medicare/Medicaid bureaucracy and funds. Makes for a neater package.
Lets get real folks.
And what exactly are most Americans to make of this? “Equal justice under the law”? Maybe it’s a microcasm of the society at large? Thieves and swindlers who acquire power, money and position are “too big to jail” just as these banks and auto companies are “too big to fail”. The same rules don’t apply to us regular folks, mind you.
What could the judge be thinking? Here are the judges words from elsewhere in the article:
“The government fails to provide sufficient evidence that any potential future dissemination of Madoff’s assets would rise to the level of an economic harm,” Magistrate Judge Ronald L. Ellis wrote.
Ellis also acknowledged the widespread public interest in Madoff’s bail and the case, but said that proper legal considerations must take precedence.
“The issue at this stage of the criminal proceedings is not whether Madoff has been charged in perhaps the largest Ponzi scheme ever, not whether Madoff’s alleged actions should result in his widespread disapprobation by the public, nor even what is appropriate punishment after conviction,” the judge wrote.
“The legal issue before the court is whether the government has carried its burden of demonstrating that no condition or combination of conditions can be set that will reasonably assure Madoff’s appearance and protect the community from danger,” the ruling said,
Good as Dreier was, though, he couldn't hold a candle to Bernie Madoff, who was arrested in NY a few days later, and Madoff's crimes have forced Dreier's name off the front pages. But Dreier can't get bail set, and his attorney has been jumping up and down saying that it's unfair to let Madoff out on bail and not Dreier.
I don't understand why Madoff wasn't jailed over his attempts to transfer jewelry and money to his family and friends. Madoff must know more people than Marc Dreier.
Great question concerning what is the judge thinking. I think he is thinking he should listen to Madoff’s attorney.
Uncle Bernie has access to probably quite a few billion. I suspect the judge was told if Bernie is in jail, nobody gets to know where the money is. Let Bernie stay out, and maybe........maybe some of the people that have been wiped out might.....might get some money back.
All those grounded jets in West Palm need fuel money. Bernie knows where the money is.
If that little POS had ANY sense of honor he would have offed himself by now.
Sorry to disagree with most of you but this statement is the crux of the issue.
The legal issue before the court is whether the government has carried its burden of demonstrating that no condition or combination of conditions can be set that will reasonably assure Madoffs appearance and protect the community from danger, the ruling said,
People have a constitutional right to bail unless there is proof that they are a danger to the community or a flight risk. Be careful what you wish for. You don’t want activist judges. This one is upholding the constitution and that is far better than “public perception” making the rules.
The Judge is a punk! He should have been sent to jail the instant it was known that he mailed the jewelry.
I’m beginning to agree with this...
I assume the “Judge” is on the take? In Madoff’s pocket?