Madoff can remain free on bail
Disgraced money manager Bernard Madoff has won the latest round in his battle with prosecutors over his bail package.
A judge allowed Madoff to remain free on Wednesday, turning back an appeal by federal prosecutors. The judge said that prosecutors failed to make a compelling argument that he is a flight risk or a danger to the community - the two main requirements for bail decisions.
Authorities say Madoff has said he ran a $50 billion pyramid scam, paying investors with money raised from new clients.
He has been free on bail at his penthouse. But the government says he should be jailed for sending more than $1 million in jewellery and gifts to family and friends over the holidays.
The defence said the gifts were an innocent mistake.