House Arrest for Madoff in $7 Million Apartment

[JudyInTheHeartland]

Source: ABC

House Arrest for Madoff in $7 Million Apartment
Park Avenue Instead of Jail for Man Accused of Historic $50 Billion Fraud
By RICHARD ESPOSITO and BRIAN ROSS

Dec. 17, 2008—

Bernard Madoff, accused of the largest fraud in U.S. history, will be allowed to remain in his $7 million Park Avenue apartment instead of being sent to jail, under terms of an agreement announced today by federal prosecutors.

Madoff was unable to meet the bond conditions set last week by a federal magistrate which required him to get four people to sign his personal recognizance bond.

According to the U.S. Attorney's office, only Madoff's wife and brothers were willing to sign the document.

But instead of ordering him held in jail, prosecutors agreed to home detention with electronic monitoring.

Madoff and his luxury apartment on Manhattan's upper east side will be fitted with an electronic monitoring device by the court's pre-trial services and Madoff will be under a curfew of between 7 p.m. through 9 a.m.

Read more: http://abcnews.go.com/Blotter/WallStreet/Story?id=6480363&page=1

[Idealism]

1. Steal $50 billion and still be able to sleep each night in your $7 million penthouse

Damn must be nice

[MUAD_DIB]

3. Bullshit. Throw his ass in with the other criminals! 50 Billion lost!

[high density]

16. Due process of law?

I know these sorts of things seem quaint after Bushco, but let our judicial process do its thing.

[Idealism]

20. Since when is "due process" allowing someone to go without posting bond?

Nice try, though

[high density]

21. Because the prosecutors agreed?

Yeah, elites get better treatment in our country. What's new?

[Idealism]

22. That isn't due process and thats not equality

[BR_Parkway]

30. Not to mention confessing when the cops show up. If he were poor

they'd have kicked in his door in riot gear and left his ass in jail for as long as it took.

All pigs are equal, some just more equal than others.

After what we just saw in Detroit vs Citibank, et al - maybe we should talk about White Collar Crime and Blue Collar crime - the lines seem to divide out the same way

[KansDem]

32. "...they'd have kicked in his door in riot gear ..."

I thought the same thing when I heard on the BBC how he was treated very courteously, even to the point the feds didn't want to bother the other family members.

I thought, "Yeah, steal $50 billion and receive kid-glove treatment. Steal $50 and watch as the cops kick in your door, haul you away in handcuffs no matter how you're dressed, and to Hell with the other family members!"

[Robbien]

2. Murkasey's influence? No bail needed, no jail. Just go home

and be a good boy from now on.

[JudyInTheHeartland]

29. Revealed: Mukasey's Synagogue a Victim of Madoff

http://cityfile.com/dailyfile/3530

Moments ago, U.S. Attorney General Michael Mukasey confirmed that he will be recusing himself from the ongoing investigation into Bernie Madoff. The Justice Department didn't specify a specific reason for his decision to step aside—early reports have suggested that Mukasey's son, Marc, may be planning to represent a defendant in the case. But we can report a much more likely—and personal—reason why the Madoff case poses a serious conflict for the AG. Mukasey's own synagogue was ripped off by Bernie Madoff's Ponzi scheme.

On the list of organizations that suffered Madoff-related losses is Congregation Kehilath Jeshurun on the Upper East Side, the synagogue that Mukasey has been attending for years and an institution that reported that it had invested $3.5 million with Madoff. The Jewish day school affiliated with KJ, Ramaz, has suffered losses as welll: The school reported having $6.5 million in Madoff accounts earlier this week. Mukasey, we've been told, has been attending the synagogue for decades, a fact confirmed in a 2007 interview with Rabbi Haskel Lookstein, with oversees both KJ and Ramaz, in the Israeli newspaper Ha'aretz: "He hasn't missed a single prayer during the High Holidays. "He might skip a prayer here and there, but he's a believer and a devout Jew." He goes on to point out that he also happened to be Mukasey's summer camp counselor when the two were kids. Now that certainly sounds like a sensible reason for Mukasey to step aside, doesn't it?

[demo dutch]

4. Why isn't this guy in jail, like every other thief. This country is incredibly corrupt!

[robinlynne]

6. maybe because mukasey''s son is his lawyer?

[WriteDown]

17. Where'd you hear that?

I thought his son was representing one of Madoff's defrauded investors?

[Robbien]

34. The son is representing Madoff's CFO Frank DiPascali

As the chief financial guy, DiPascali is rumored to have assisted Madoff in the scheme.

[robinlynne]

38. no. Mukasey had to recuse himself from the case because of his son. don't know where I read i, sorry

but try googling mukasey and recuse. It was within the past 24 hours.

[The_Casual_Observer]

5. Isn't jail part of the deal?

[Robbien]

33. It was, but Madoff couldn't get four people to vouch for him

so instead of being out on bond he is under house arrest.

The rules are a bit different in the world of the elite.

[acmavm]

7. Remember, if you decide to steal, steal BIG. Like they always

say, if you gotta go, go FEDERAL. Hell, in this case they'll let you sleep in your own bed.

But there is some justice here. He ripped off a lot of rich people.

[Acadia Blue]

8. Another rich dirty stealing parasite just like Bush and Cheney.

[JudyInTheHeartland]

9. Does anyone know how to look up which candidates he gave $$ to?

I'd love to know which Republo-thugs he has in his pocket.

[Ikonoklast]

11. Be careful what you ask for

http://www.opensecrets.org/news/2008/12/madoff-and-company-spent-nearl.html

Big Democratic contributor.

[WriteDown]

18. His Jewish background had me...

thinking this would be the case. Ugh.

[Karenina]

12. He's given a pretty penny to Democrats.

I haven't seen a list of contributions to Republicans.

[jayfish]

10. He Should Be Hanging From A Lamp Post.

Treasonous f'ing bastard!

Jay

[rhett o rick]

37. What he did pales in the face of what bush/cheney did. nm

[frylock]

13. chappelle did a great skit on this type of double-standard..

our "justice" system is damn joke.

[Blue_Tires]

14. of course, had he robbed a 7-11 or gas station for $250

he would have been in the tank from the beginning

[pjt7]

15. Just proves financial thieves wear D's & R's on their

sweaters..

[WriteDown]

19. I'll play devi's advocate a bit here....

Armed robbery is always treated differently. Unfortunately, this is a white collar crime.

[jayfish]

24. You've Got To Be Kidding?

How about possession of rock cocaine? ..and why are you playing DA? He doesn't deserve the effort of thought.

Jay

[WriteDown]

25. Just talking about the law....

Bail is also set based on danger to society and flight risk. Is isn't meant as part of the punishment phase. I won't be outraged until he gets off at trial.

[hoboken123]

35. yep

That's what I came here to say.

The concern I'd have is the potential flight risk.

[nightrain]

23. unbelievable! Oh wait.... believable... sadly

[rocktivity]

26. Home detention on Park Avenue? Come back, Abu Grhaib, all is forgiven

Reminds me of when Martha Stewart got home detention on her 23-acre estate, and the judge had the nerve to have a hissy fit when he learned that Martha dared to go jogging on her own property. And he's NOT a flight risk?

:eyes:
rocknation

[Loge23]

27. Insane. They're baiting us.

They seem to be just tempting the people towards an uprising.
Perhaps Madoff (or one of his servants) can throw us all some cake from his balcony.
Billions stolen and no jail. We are so done.

There's an estimated 500,000 non-violent drug offenders in U.S. prisons. Many have had their assets confiscated. When will the people of this country stand up for equal justice?

[HopeHoops]

28. Poor baby - how could he STAND to be locked up in that tiny little apartment?

[judesedit]

31. THAT'S BULLCRAP!

This is justice?? A poor person steals food or clothes for his kids and he is humiliated, pays a large fine, goes to jail for a year and has probation for 3 to 5. If a single parent, probably loses the kids, loses their home because there's noone to pay the rent, etc. etc. These major thieves get slapped on the wrist, after stealing billions. Sounds to me like the prosecutors have some skeletons of their own. Vote all of these crooks out of office. It is time for real justice to take over in this country. Madoff will have to have plastic surgery to even be able to walk around in public in this country and probably others ever again. People take losing millions of dollars kind of personally and semi-automatic weapons are legal. Look out, Madoff. You've done pissed some people off. Hope you have a real nice place since you'll be in there 24/7 for the rest of your life.

[rhett o rick]

36. Why is everybody picking on Madoff?? Paulson did exactly the same thing for trillions.

Some call it a bubble, some call it a pyramid scheme and some call it a Ponzi scheme. Why isn't Paulson under house arrest?

[cliss]

39. That's it. I'm starting my own Ponzi Scheme.

Just imagine. Mr. Made-Off with the money set up his Ponzi Scheme. Raked in the dough for over 20 years. When it all came tumbling down, I've read that Made-Off siphoned off around $200 million and gave to staffers as Year-End BONUSES. Then, he took a big chunk of change (maybre $300 million maybe more) and sent it to unnumbered bank accounts. To be claimed by the family later, when the heat is off.

It's pretty clear: pull off a multi-billion dollar heist, and you will walk free.

Did you see the photo of Made-Off today, as he was walking back to his $7 million dollar condo? He looked happy. I bet he's going out Xmas Shopping tonite.
:smoke: