Former Bernard Madoff Aide Has House Arrest Lifted
Ex-Bernard Madoff aide Annette Bongiorno has been granted a reprieve from house arrest, on the condition she continues to wear an electronic bracelet. Bongiorno, who is accused of helping Madoff cover up his $50 billion Ponzi scheme, is charged with conspiracy and tax evasion.
The 62-year-old Bongirono is free on $3 million bond, and was formerly under house arrest, restricted to her Long Island home and permitted to only visit relatives on special occasions. Now, however, she has been given freedom for 12 hours a day, five days a week, and is allowed to travel to New Jersey.
An actual trial for Bongiorno and four fellow Madoff workers is not likely to take place for several months, and prosecutors were keen to maintain restrictions on her movement. They argued that $300,000 had recently disappeared from Bongiorno’s bank account, suggesting she might be planning to flee.
Bongiorno’s ‘outrageous’ living expenses were also mentioned – prosecutors said these totaled $13,500 a month.
Lawyers for Bongiorno shot back on both counts, saying her living expenses were closer to $3,000, and claiming the missing $300,000 had been used to make a one-time pre-payment. The money, argued the defense, is no longer available to Bongiorno.
Bernard Madoff pleaded guilty to fraud in June 2009, and was duly sentenced to 150 years in prison, the maximum allowed. He’s currently serving his time at Federal Correctional Complex, Butner. In October 2009, the 73-year-old Madoff reportedly experienced his first prison yard fight with another senior citizen inmate.
