Feds: Jail Madoff For Violating Bail
Federal prosecutors are asking a judge to throw alleged $50 billion Ponzi-schemer Bernie Madoff -- currently out on bail -- in jail for mailing $1 million worth of assets to third parties.
According to assistant U.S. attorney Marc Litt, testifying in Manhattan federal court today, Madoff and his wife Ruth mailed five items, including "very valuable jewelry," Bloomberg reported, to others, violating the terms of his asset freeze.
The act violated Madoff's bail -- he is under house arrest in his apartment -- Litt said, so Madoff should be sent to the slammer.
Madoff's defense lawyer, Ira Sorkin, disputed that his client has violated the terms of his bail.
The government has recovered three of the items, Litt said.
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