Annette Bongiorno, one of convicted swindler Bernard Madoff's longest serving employees charged in the massive fraud, made bail on Friday and was ordered into house arrest. US District Judge Laura Taylor Swain ordered Bongiorno, 62, confined to her multimillion-dollar house in Manhasset on New York's Long Island as the case proceeds to trial.
The judge accepted that Bongiorno could meet the requirements of bail reduced to $3 million from $5 million "under strict home incarceration" that "provides the necessary assurance that she will appear in court for the case." Bongiorno worked at Bernard L. Madoff Investment Securities LLC for 40 years, managed accounts and supervised some employees, according to federal prosecutors who arrested her and charged her with conspiracy and securities fraud on November 18.
She surrendered to authorities on December 21 after being under house arrest at another home in Boca Raton, Florida, after failing make bail. In court on Friday, the diminutive Bongiorno rose briefly to say "Yes I do, Your Honor" when the judge asked if she understood the new bail conditions. Madoff, 72, is serving a 150-year prison sentence after pleading guilty in March 2009 to orchestrating what is considered the biggest investment fraud in history.
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