Disgraced investor Bernard Madoff gets bail on $10M bond
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 US 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 US Ponzi scheme that has left investors around the world in financial ruin.