A prosecutor on Wednesday ramped up his effort to have Bernard Madoff jailed while awaiting trial for a multibillion-dollar Ponzi scheme. Assistant U.S. Attorney Marc Litt argued that Madoff, who has been out on bail since his arrest Dec. 11, is a genuine flight risk who cannot be trusted with assets that could be used to compensate victims of his fraud. Saying that the case law is on the government's side, Litt asked Magistrate Judge Ronald Ellis to share his broad reading of the Bail Reform Act.
Feds Step Up Efforts to Convince Court Madoff Should Be Jailed
New York Law Journal
January 8, 2009