Legal

Judge Revokes Madoff Aide’s Bail

Wendy Connett Editor New York 22 December 2010

Judge Revokes Madoff Aide’s Bail

A longtime employee of convicted Ponzi schemer Bernard Madoff had her bail revoked and was ordered to report to jail yesterday by a federal judge, according to numerous press reports.

Federal prosecutors in Manhattan accused Annette Bongiorno, Madoff’s former secretary, of playing a major role in deceiving investors and regulators in the  decades-long fraud. She has denied any wrongdoing. Bongiorno is one of five former Madoff employees facing criminal charges in the case.

Bongiorno, who has been on house arrest and subject to electronic monitoring in Florida, couldn’t meet the conditions of a $5 million bail set last month.

US District Judge Laura Taylor Swain said she was concerned by Bongiorno's access to "unrestricted assets that pose a very real potential for the facilitation of flight."

Her lawyers, who had suggested that a monitor be appointed to keep an eye on her and her husband's assets, were seeking an emergency stay of the judge's order by the US Second Circuit Court of Appeals as this story went to press.

 

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