Sunday, March 22, 2009

Appeals court: Madoff will remain in prison

NEW YORK — Disgraced financier Bernard Madoff was properly put in prison to await sentencing in one of the largest financial frauds in history, an appeals court ruled Friday as the government released victims' emotional letters describing their losses.
The 2nd U.S. Circuit Court of Appeals issued its written ruling a day after hearing arguments from the government and a lawyer for the 70-year-old former Nasdaq chairman.

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