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Prosecutors Want Madoff’s Bail Revoked

MANHATTAN (CN) - Federal prosecutors on Monday asked a federal judge to revoke Bernard Madoff's $10 million bail and send him to jail. Prosecutors said Madoff sent more than $1 million worth of jewelry to friends and family last month, in violation of terms of his release. U.S. Magistrate Ronald Ellis gave prosecutors and Madoff until Wednesday to submit briefs. Madoff is suspected of running the biggest Ponzi scam in history.

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