Ex-Madoff aide makes bail, under house arrest
Annette Bongiorno, one of convicted swindler Bernard Madoff's longest serving employees charged in the massive fraud, made bail on Friday and said she looked forward to drinking "real milk" at home.
January 08, 2011 / 11:58 IST
Annette Bongiorno, one of convicted swindler Bernard Madoff's longest serving employees charged in the massive fraud, made bail on Friday and said she looked forward to drinking "real milk" at home.
Bongiorno, who has been jailed since December 21, was ordered by a judge to be put under house arrest at her multimillion-dollar home in Manhasset on New York's Long Island as the case proceeds to trial."I'm thrilled, I can't wait to get home," the diminutive Bongiorno, 62, said as she walked out of Manhattan federal court.She told reporters she was looking forward to "a big glass of real milk" because she was only given skim milk in jail.Bongiorno declined to answer a question about what she would say to Bernard Madoff, who employed her at Bernard L Madoff Investment Securities LLC for 40 years.US District Judge Laura Taylor Swain accepted that Bongiorno could meet the requirements of bail reduced to USD 3 mn from USD 5 mn "under strict home incarceration" that "provides the necessary assurance that she will appear in court for the case."Bongiorno managed accounts and supervised some employees at the firm, according to federal prosecutors who arrested her and charged her with conspiracy and securities fraud on November 18.She surrendered to authorities on December 21 while under house arrest at another home in Boca Raton, Florida after failing to make bail.Madoff, 72, is serving a 150-year prison sentence after pleading guilty in March 2009 to orchestrating what is considered the biggest investment fraud in history.Prosecutors initially estimated the worldwide, decades-long investment fraud took in about USD 65 bn. The court-appointed trustee liquidating the Madoff firm estimates investors' principal losses were about USD 20 bn.Eight people have been criminally charged in the case, including Madoff, outside accountant David Friehling, longtime Madoff right-hand man Frank DiPascali, computer programmers Jerome O'Hara and George Perez, operations manager Daniel Bonventre, Bongiorno and Jo Ann Crupi, who both managed accounts.Friehling and DiPascali have pleaded guilty and await sentencing. The other five have pleaded not guilty.The case is USA v O'Hara, Perez, Bonventre, Crupi & Bongiorno, US District Court for the Southern District of New York, No. 10-228. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
