Madoff aide Bongiorno released on bail

Posted By: Anita Nair
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Washington, Jan 7 (ANI): Annette Bongiorno, one of Bernard Madoff longest serving aides who faces charges related to the Ponzi scam, has been let out of jail after a judge cut her bail amount to three million dollars.

According to the Daily News, 62-year-old Bongiorno was released on Friday after the Manhattan Federal Courthouse let her out on house arrest with an electronic bracelet monitoring her from her Manhasset house.

Tears of joy rolled down her eyes after U.S. District Judge Laura Taylor Swain reduced her bail from five million dollars to three million dollars.

"I was so happy. I'm thrilled to be out. I would have thanked the judge if I could," the paper quoted her, as saying.

"The worst part about being in jail was being frightened about where you're going to be next. I'm thrilled. I can't wait to get home," she added.

Bongiorno's lawyers Maurice Sercarz and Diane Ferrone argued that she could have fled at any time in the two years since Madoff's 65 billion dollars scam was exposed, but chose to stay and face criminal charges.

She is accused of taking 14.5 million dollars while bankrupting unsuspecting investors in the Madoff scheme.

Bongiorno, who spent 40 years working for Madoff, faces 75 years in prison if convicted for her alleged role in the nation's largest financial fraud case. (ANI)

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