Summary
A prosecutor demanded that alleged Wall Street fraudster Bernard Madoff be jailed until his trial, saying he broke his bail conditions by sending watches, jewellery, cufflinks and mittens worth more than a million dollars to relatives and friends. "The defendant's recent actions amount to obstruction of justice," Assistant US Attorney Marc Litt told the judge at an hour-long bail hearing in New York. Madoff, a former Nasdaq stock market chairman, was arrested on December 11 on securities fraud charges alleging he duped investors out of as much as 50 billion dollars (pounds 34.2 billion) in a giant pyramid scheme. His lawyer said his client did not violate a court-imposed asset freeze and called it an innocent mistake, saying Madoff and his wife sought the return of the items they had posted on December 24 as soon as they were told they could not send them out.
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Madoff's Pounds 1m Gifts 'Broke Bail Terms'
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