Financier Madoff stays out on bail

12/01/2009 - 18:25:50
Alleged fraudster Bernard Madoff will remain free after a judge failed to revoke his bail today.

Prosecutors in the US had been attempting to have the disgraced financier sent to jail after it emerged that more than $1m (€746,574) in jewellery and heirlooms had been posted to family and friends in recent weeks.

But a judge ruled that Madoff – who is alleged to have committed a $50m (€37.33m) fraud involving pyramid schemes – can remain at his Manhattan penthouse.