On December 17, 2008, Madoff was released on bond. The judge gave him a curfew and issued him a monitoring bracelet. Madoff will be confined to his $7 million Park Avenue apartment. Madoff had to sign over his Upper East Side apartment and homes in Palm Beach and the Hamptons to make the $10 million bond.
Madoff's Money Trail Leads to Washington
Naturally, the Madoff money trail of special favors and exceptions leads straight to Washington. From 1998 through 2008, Bernard L. Madoff Investment Securities paid $590,000 lobbying Congress and the SEC, according to the Center for Responsive Politics. His lobby firm for most of those years was Lent, Scrivner & Roth, with Norman F. Lent III signing the disclosure documents in the House and Senate. One of Madoff’s hot button issues during those years according to the disclosure documents was getting a single regulator. That meant, for starters, merging those prying eyes over at the New York Stock Exchange into the clubby pool of self-regulators at the National Association of Securities Dealers where the Madoff family held numerous seats of power. That wish came true when NASD Regulation merged with the enforcement and arbitration units of the New York Stock Exchange in July 2007 to create the Financial Industry Regulatory Authority (FINRA).
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