Prosecutors Seek To Claim Over $30M From Madoff's Sons
LARRY NEUMEISTER | March 17, 2009 10:43 PM EST | AP
NEW YORK — Prosecutors stepped up their scrutiny of Bernard Madoff's family and assets Tuesday, telling a judge they want to seize jewelry, business interests and more than $30 million that the disgraced money man and his wife lent to their two sons.
The move was one of two motions that prosecutors filed Tuesday, four days after Madoff pleaded guilty to what could be the largest fraud in history. The other motion argued that Madoff must remain behind bars before his sentencing because his guilty plea creates a tremendous motive to flee, especially since he faces the near-certainty of a life prison sentence.
Assistant U.S. Attorney Lisa A. Baroni said strict bail conditions that have kept Madoff under guard in his apartment with an electronic ankle bracelet and video monitoring were not foolproof. She said Madoff "managed to perpetrate an enormous fraud, over the course of decades; his ingenuity should not be underestimated."
The prosecutor even noted that Madoff "has been shunned by the New York community and his inability to salvage his reputation." She said his history of extensive foreign travel, including to his $1 million home in France, also heightened the risk he could flee.
The court filing sets the stage for arguments Thursday before a federal appeals court on whether Madoff should remain jailed. His defense lawyers have asked the court to set him free ahead of his sentencing.
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http://www.huffingtonpost.com/2009/03/17/prosecutors-want-over-30m_n_176087.html