US financier Bernard Madoff, the former chairman of the Nasdaq stock index, has been jailed after pleading guilty to all 11 charges of fraud, money laundering, and perjury surrounding a US$50 billion Ponzi scheme . Judge Denny Chin of Federal District Court ordered that Madoff be remanded as he was awaiting a sentence, rather than letting him out on bail and allowing him to return to his apartment in Manhattan. "He has incentive to flee, he has the means to flee, and thus he presents the risk of flight," the judge said. "Bail is revoked."
US financier Bernard Madoff, the former chairman of the stock index, has been jailed after pleading guilty to all 11 charges of fraud, , and surrounding . Judge Denny Chin of Federal District Court ordered that Madoff be remanded as he was awaiting a sentence, rather than letting him out on and allowing him to return to his apartment in Manhattan. "He has incentive to flee, he has the means to flee, and thus he presents the risk of flight," the judge said. "Bail is revoked."
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money laundering, and perjury surrounding a US$50 billion Ponzi scheme
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