Bernie Madoff's Case

Investors are now expressing ravage when the judge for Bernie Madoff’s case has prohibited bail for the largest fraud scheme ever exhibited in history. Madoff is an investor who was charged for mailing $1 million worth of jewelry for relatives and friends over the holiday seasons. Investors clamor that the financial activities performed by Madoff, such as sending gifts will potentially jeopardize the community’s economy primarily due to the large amount of the accused gifts. Prosecution also stated that since Madoff is already a defendant of the case, his assets must be returned to the affected investors. However, the New York City judge who presides the hearing said that Madoff can still be free as a result on his application for bail. In normal conditions, judges would not issue an approval for bail for two main reasons: one, if the defendant is a flight risk, and two, if he/she is considered as a danger in the community.

The NYC judge, Ronald L. Ellis reasoned that his reason for bail is because the government was not able to present substantial evidence that Madoff’s assets will certainly jeopardize the economy. He was acting in the basis of tangible evidence and not on arguments presented by the prosecuted even if their premises would be logically true. Still according to Ellis, the issue is not that Madoff has committed neither the largest financial fraud nor the widespread disapproval of the public. He also insisted that the courts shall not count the argument of appropriateness of punishment to revoke Madoff’s bail. Rather, the issue that the courts must be focusing into is whether the government was able to do its duty to verify whether Madoff’s status would really endanger the community. From the above information presented, it seems that players in this case are pointing fingers at each other as to whom the blame shall be put into. Obviously, the judicial part is acting based on tangible evidence and conditions given by the law in terms of who can bail or not.

Although Madoff has been awarded with the bail, security is still tight. For example, security check ups are being done for outgoing emails which may be potentially carrying fraudulent items. In support to this, defense lawyer Ira Sorkin says that the gifts that Madoff was filed the case for are all innocent. She also defended that her client cannot jeopardize the welfare of the community neither that Madoff will be a threat to flee. Despite the heated arguments on this case, the government still has no comment