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Bernard Madoff given bail of $10 million

Alleged US fraudster Bernard Madoff has been given bail of $10 million as he awaits trial for the collapse of his $50 billion investment fund empire. Rumours and counter rumours have been swirling around the markets for some time now and his businesses in foreign lands have also come under scrutiny. However, he has managed to agree deal with US judges and the $10 million bond should not be too difficult for him to meet.

While many are surprised that Madoff has been given bail it would appear that this difficult and complex case could have a lot further to go. Already criticism is being aimed at the US regulators who had already investigated Madoff on a number of occasions during their everyday duties. Quite how the make-up and support of his operation was not exposed at this stage is uncertain but no doubt the devil is in the detail.

Whether Madoff is found guilty or not we are sure to see a changing landscape of the US financial regulatory system which has been left wanting on a number of occasions of late. The Madoff affair is set to drag in a whole host of celebrity and well-known investors who were desperate to hand over their money to him.

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