Madoff's Ex-Secretary Makes Bail, Gets House Arrest

Madoff's former secretary faces 75 years in prison

Bernard Madoff's former secretary has made bail and will await her New York trial while on house arrest.

Annette Bongiorno, of Boca Raton, is facing trial on charges of conspiracy and securities fraud.

A Manhattan federal judge agreed Friday to reduce her bail from $5 million to $3 million. She's expected to be released later in the day to house arrest on Long Island.

Her lawyers had sought the bail reduction. They said electronic monitoring and frozen finances would eliminate any flight risk.

Bongiorno was arrested in November on 14 charges of fraud and falsifying records and could face 75 years in prison if convicted. Prosecutors claim she helped Madoff bilk investors of between $15-$20 billion. She made over $600,000 a year with Madoff, but also profited from making her own phony stock trades.

Madoff is serving a 150-year prison sentence. He pleaded guilty in 2009 to fraud charges, admitting he cheated thousands of clients over two decades.

Copyright AP - Associated Press
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