Dec 17, 2008 3:07 pm US/Eastern
Madoff Puts Up NYC, Hampton Homes For $10M Bond
WASHINGTON (CBS News) ―
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Bernard L. Madoff, seen here in New York City on Dec. 17, 2008, was arrested on a securities fraud charge on Dec. 11, 2008, accused of running a phony investment business that amounted to nothing more than a "giant Ponzi scheme."
Don Emmert/AFP/Getty Images
Disgraced investor Bernard Madoff made an appearance at the federal courthouse in Manhattan to complete paperwork for his bail after a judge set new conditions for release, including a curfew and monitoring bracelet.
Madoff, wearing a baseball cap and a black jacket, said nothing to reporters as he walked out of the building and drove away in a sport utility vehicle. He was at the courthouse to sign over his Upper East Side apartment and his homes in Palm Beach and the Hamptons for his $10 million bond.
Madoff has already surrendered his passport, and now will be required to be at his Manhattan apartment from 7 p.m to 9 a.m. His wife was required to surrender her passport as well.
Part of Madoff's bail conditions also required that he find people to co-sign for him, and his wife and brother had already done so. Madoff had been required to find two additional co-signers to vouch for him, but with the scandal swirling around him, he was unable to do so.
The judge responded by modifying the bail package, and gave lawyers until next Monday to come up with additional paperwork.
Meanwhile, Securities and Exchange Commission Chairman Christopher Cox said Wednesday that no evidence of wrongdoing by staff has surfaced yet in connection with the agency's failure to investigate credible claims about Madoff.
The investigation by the agency's inspector general is just beginning. Cox ordered the probe Tuesday after he learned of "multiple failures" by staff over a decade to look into allegations about Madoff's business.
"We have thus far no evidence of any wrongdoing by any SEC personnel," Cox told reporters at SEC headquarters on Wednesday. "We need to go about this in a thorough, professional way."
Madoff was arrested on charges that he carried out what prosecutors say he called a $50 billion Ponzi scheme that has left investors around the world in financial ruin.
CBS News Investigative Producer Pia Malbran reports that Miami businessman and former Philadelphia Eagles owner Norman Braman, called Wall Street financier Bernard Madoff a "first-class crook" who should go to jail for the rest of his life for carrying out an elaborate Ponzi scheme Braman calls the "scam of the century."
"He had a great reputation. He was respected," Braman told CBS News in an exclusive interview.
(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
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