Wednesday, December 17, 2008

Madoff appears at courthouse, has curfew set

Disgraced investor Bernard Madoff made a surprise appearance at the Manhattan federal courthouse as a judge set new conditions for his bail, including a curfew and monitoring bracelet.

Madoff remains free on bail. He said nothing to reporters as he walked out of the building; it's unclear why he was at the courthouse because his hearing had already been postponed.

Part of Madoff's bail conditions 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. So the judge modified the bail package, and gave lawyers until next Monday to come up with additional paperwork.

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 also required to surrender her passport.

Madoff was arrested on charges that he carried out what prosecutors said he called a $50 billion Ponzi scheme.

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