A court hearing has been scheduled for tomorrow on a US government appeal of a judge's ruling keeping accused swindler Bernard Madoff out on bail and under house arrest, court officials said today.
Yesterday's ruling gave Mr Madoff, one of the most vilified figures in America, more time in his $7 million Manhattan penthouse apartment before he goes to trial or pleads guilty to a purported $50 billion worldwide investment fraud.
The government wants a judge to revoke his bail and send him to jail.
Judge Lawrence McKenna in US District Court in Manhattan will hear the government's argument at 2:30 p.m. (1930 GMT) tomorrow, a clerk in his court and a court spokesman said.
It was not immediately clear whether Mr Madoff would appear at the hearing, but in most cases defendants do attend hearings. His lawyers were not immediately available to comment.
The 70-year-old investment adviser is under house arrest and may leave his apartment only for court appointments.
Mr Madoff's lawyers have said their client is cooperating with government investigations following his Dec. 11 arrest for what would be the biggest Ponzi scheme in history. In a Ponzi scheme, early investors are paid with the money of new clients.
The government has until February 11th to convince a grand jury to bring an indictment against Mr Madoff, a former chairman of the Nasdaq stock market and a once-respected figure for more than 40 years in the financial industry.
Yesterday, US Magistrate Judge Ronald Ellis rejected prosecutors' request to jail Mr Madoff. Prosecutors later said they would appeal the ruling.
The government had asked the judge to jail Mr Madoff, arguing that he violated a December 18th court order freezing his assets by mailing more than $1 million of jewelry and valuables to family and friends. They also said he was a flight risk.
Authorities say Mr Madoff has confessed to a $50 billion fraud.
Reuters