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    Updated on May 13, 2020. Posted on Jan 12, 2009

    Madoff Avoids Jail (For Now)

    Despite having sent a cool million dollars worth of jewels to friends and family over the holidays, the alleged mastermind behind arguably a $50 billion Ponzi Scheme - the largest financial fraud in history - was given permission to remain under house arrest in his Manhattan penthouse on $10M bail.

    How long can a guy be cooped up in a sprawling penthouse before getting sick and tired of taking baths in a jacuzzi filled with gold? Our heart goes out.

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