NYC judge allows Madoff to remain free

I wish I had a million dollars to mail to friends and family … but I guess at the holidays one is generous (albeit here with other people’s money)…

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NEW YORK - A U.S. judge has allowed Bernard Madoff to remain free on bail, rejecting a bid by prosecutors to send the disgraced money manager to jail.

Madoff mailed more than US$1 million in jewelry and heirlooms to family and friends over the holidays. Prosecutors said the gifts were grounds to have his bail revoked because what's left of Madoff's assets will have to be returned to burned investors.

Madoff's lawyers said the gifts were an innocent mistake and said he is neither a danger to the community nor a threat to flee.