Madoff Secretary Wins Bail

Jan 18 2011 | 9:14pm ET

Bernard Madoff’s longtime secretary is free on bail again after spending a few weeks in prison.

Annette Bongiorno was freed earlier this month on $3 million bond. She had been jailed—and hauled to New York from her home in Florida—just before Christmas after prosecutors said she had access to $2.4 million in assets they hoped to seize.

But the government now says it has encumbered about $7.6 million of Bongiorno’s assets, leaving her with “insufficient unrestrained assets” to repay the eight co-signers of her bond should she flee. Under the terms of her bails, she is subject to home confinement and must wear an electronic monitoring anklet.

Bongiorno and another longtime Madoff aide, Joann Crupi, were arrested in November and charged with assisting him in running a $65 billion Ponzi scheme. Investigators reportedly found a note written by Bongiorno ordering a Madoff employee to produce phony client statements without argument. Bongiorno and Crupi have also been sued by the court-appointed receiver in the case, who is seeking $20 million from them.


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