A federal judge Monday denied a request by prosecutors to revoke the $10 million bond that is keeping Bernard Madoff out of jail for now, and will allow Madoff to remain free on bail.
U.S. Magistrate Judge Ronald Ellis in Manhattan today said Madoff, arrested last month for running an alleged $50 billion Ponzi scheme, may continue to live under house arrest in his Manhattan apartment on the Upper East Side. Ellis imposed new conditions, ordering Madoff to compile an inventory of all items in his home and barring him from transferring property.
“Because the government has failed to meet its legal burden, the motion is denied,” Ellis wrote in the order. “The government has failed to articulate any flaw in the current conditions of release.”