Results tagged “housearrest”

Disgraced former NYPD Commissioner Bernard Kerik was released from jail last night on $1.5 million bond and placed under house arrest as he awaits his February sentencing on various federal crimes. For the next few months, Kerik must wear an electronic monitoring bracelet and is not allowed to set foot outside his $2.5 million home in Franklin Lakes, N.J., except to visit lawyers, his church, and a hospital emergency room, if necessary. He's also allowed to meet with accountants fixing his fraudulent tax returns, but yesterday a judge denied Kerik's request to walk his children to school, telling him, "This is not home confinement with morning strolls and afternoon strolls."

The federal judge who sent Bernie Madoff away released 173 pages of letters and emails that victims of the Ponzi scheme had sent in before he pleaded guilty. Their names and addresses were blocked out, only the cities from which they wrote remained for most. Investors lashed out both at Madoff and his wife Ruth in their letters. Some quotes highlighted in today's local papers include:

Earlier today, Bernard Madoff's lawyer asked an appeals court to release the admitted Ponzi schemer, while federal prosecutors argued that he should stay behind bars. One judge pointed out that Madoff could have fled with "$100 million and settled in some tropical republic, yet he didn't do that," instead of admitting his fraud, adding, "He was a respected citizen who could travel as he liked. Why isn't that really a powerful argument against your position?" To which Assistant U.S. Attorney Marc Litt said, "It's an argument, not a powerful one"; Litt also said that house arrest was unacceptable since guards could be bribed or fall asleep. The judges didn't immediately issue a ruling; Madoff did not appear in court.

Not even in the clink for 24 hours and Bernard Madoff is looking to get out of jail. The disgraced financier's lawyers filed an appeal to get the 70-year-old out of his Metropolitan Correctional Center jail cell today. The filing reads, "Since his arrest, Mr. Madoff has complied at all times with the extraordinarily restrictive bail conditions imposed upon him. He has not attempted to flee nor has he attempted to harm any individual or the community."

Marc Dreier, the attorney who once had a firm of hundreds and now stands accused of a $380 million fraud, was allowed to go home on $10 million bail. He will be "forced" to stay in his, Bloomberg News notes, "luxury East-Side Manhattan apartment, watched by armed guards around the clock and subject to electronic monitoring and other precautions to ensure he doesn’t flee." One interesting detail reported by the Daily News: "Manhattan Federal Judge Jed Rakoff clarified the conditions for Dreier by emphasizing that his Feb. 8 order doesn't prohibit 'lethal force' to subdue a fleeing Dreier." Which means the guards, that Dreier must pay for, can use their guns to shoot at him if he tries to escape!

Marc Dreier, the once prominent attorney accused of swindling hundreds of millions from hedge funds and investors alike, was given bail by a federal judge yesterday. However, the NY Times reports, "The conditions set by the judge are so restrictive that even if Mr. Dreier posts the $10 million bond that the judge required — which could happen by early next week — Mr. Dreier would be holed up in what might be considered a fancy prison." Well, Dreier's lawyer did want a Madoff-like bail! Among the restrictions proposed: An electronic monitoring device, a security guard, approval of visitors and "no call forwarding, no modem, no caller ID, no call waiting and no wireless phone."

Guess who's getting tired of being locked up in his East 64th Street penthouse, instead of jail? The Post reports that $50 billion Ponzi scheme mastermind Bernard Madoff has, according to a source, complained about his gilded cage, whining, "I'm a prisoner in my own house! I can't go anywhere! I'm stuck here all day!" Tell it to the judge who allowed you to stay at home! And lest you think Madoff can surf the Internet (and, you know, read celebrity gossip and transfer funds to off-shore accounts), his web and phone habits are being tracked.