A US judge today allowed accused swindler Bernard Madoff to remain free on bail, rejecting a bid by prosecutors to jail him.
But he remains under house arrest with additional restrictions
The ruling gives Mr Madoff (70), more time at home in his Manhattan apartment before he pleads guilty or goes to trial as authorities probe a worldwide $50 billion investment fraud they said he confessed to a month ago.
Prosecutors last week asked the judge to revoke Mr Madoff's bail, saying he violated a December 18th court order freezing his assets by mailing more than $1 million worth of valuables to relatives and friends.
They said he was a flight risk and could cause further economic harm to investors by dispersing his assets or belongings.
Magistrate Judge Ronald Ellis of US District Court in Manhattan turned down the government's request. But he ordered that Mr Madoff's mail be checked and that he provide a list of portable valuables.
"On this matter, the government has the burden of proof by a preponderance of evidence with respect to the question of flight, and by clear and convincing evidence with respect to question of danger - but there are no conditions which can be set to address these concerns," the judge said in his written ruling.
"The court finds that the government has failed to meet its burden as to either ground. Accordingly, its motion is denied."
Mr Madoff, a former chairman of the Nasdaq stock market and a financial industry veteran of more than 40 years, was arrested and charged on December 11th in what would be Wall Street's biggest Ponzi scheme -- paying off early investors with the money of new clients.
Reuters