Politics | WCTV Eyewitness News: Tallahassee, Thomasville, Valdosta

Madoff Scandal

By: Associated Press
By: Associated Press

NEW YORK (AP) Prosecutors claim Madoff has been trying to protect his assets from investors burned by a $50 billion fraud, and want his bail revoked.

They say he sent $1 million worth of jewelry as holiday gifts.
Before his arrest, they say, he was ready to send 100 signed checks
worth $173 million to family and friends.

The defense says the sending of the gifts was an innocent
mistake, and believe he should be free on bail.


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