BEING placed under house arrest is supposed to curtail trips to enjoy some of life's little pleasures. But if the house is a $7 million (£4.6m) apartment in one of the best districts of New York then perhaps the impact is not quite the same.
This Christmas a judge's ruling will leave Bernard Madoff trapped under virtual house arrest in his apartment, looking out on a society that once revered him for conjuring riches seemingly out of nothing. Confined to his duplex on the city's Upper East Side, he will have ample time – and space – to think over his actions.
In the wake of his alleged involvement in a $50 billion (£33 billion) pyramid scam that has laid siege to numerous financial institutions, companies, charities, and individual investors, the 70-year-old former Nasdaq chairman has been told to remain in his Manhattan residence from 7pm to 9am each day.
This Christmas a judge's ruling will leave Bernard Madoff trapped under virtual house arrest in his apartment, looking out on a society that once revered him for conjuring riches seemingly out of nothing. Confined to his duplex on the city's Upper East Side, he will have ample time – and space – to think over his actions.
In the wake of his alleged involvement in a $50 billion (£33 billion) pyramid scam that has laid siege to numerous financial institutions, companies, charities, and individual investors, the 70-year-old former Nasdaq chairman has been told to remain in his Manhattan residence from 7pm to 9am each day.
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