NYC judge allows Madoff to remain free on bail

NYC judge rules that Bernard Madoff can remain free on bail in Manhattan penthouse

NEW YORK (AP) -- A judge has allowed Bernard Madoff to remain free on bail, rejecting a bid by prosecutors to send the disgraced investor to jail.
Disgraced financier Bernard Madoff leaves U.S. District court after a bail hearing in New York, Monday, Jan. 5, 2009. Prosecutors on Monday said Madoff violated bail conditions by mailing about $1 million worth of jewelry and other assets to relatives and should be jailed without bail. (AP Photo/Kathy Willens)

Disgraced financier Bernard Madoff leaves U.S. District court after a bail hearing in New York, Monday, Jan. 5, 2009. Prosecutors on Monday said Madoff violated bail conditions by mailing about $1 million worth of jewelry and other assets to relatives and should be jailed without bail. (AP Photo/Kathy Willens)

Madoff mailed more than $1 million in jewelry and heirlooms to family and friends over the holidays. Prosecutors said the gifts were grounds to have his bail revoked because what's left of Madoff's assets will have to be returned to burned investors.

The anxiously awaited decision puts further restrictions on Madoff, including forcing him to come up with a list of items at his apartment and allowing a security firm to check on the items.

Defense lawyer Ira Sorkin says the "the opinion speaks for itself and we intend to comply with the judge's order."

Madoff's lawyers said the gifts were an innocent mistake and said he is neither a danger to the community nor a threat to flee.

Is this the biggest load of crap you've ever heard?!? How can any judge worth his salt believe that? They better take his passport!