On Friday, a unanimous 2nd Circuit panel denied Bernard L. Madoff's bid for bail reinstatement while he awaits sentencing for orchestrating the largest Ponzi scheme in history. Some attorneys question what Madoff has gained from his guilty plea, given that he would have been able to remain free longer if he had continued to contest the charges. However, with no hope of beating the charges, Madoff may simply have wanted to spare himself and his family from a prolonged legal ordeal.
2nd Circuit Panel Declines Madoff's Bid to Reinstate Bail
New York Law Journal
March 23, 2009