A judge delayed a decision until Monday on whether Bernard Madoff should be sent to jail.
Prosecutors claim Madoff has been trying to protect his assets from investors burned by a $50 billion fraud, and want his bail revoked.
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They say he sent $1 million worth of jewelry as holiday gifts. Before his arrest, they say, he was ready to send 100 signed checks worth $173 million to family and friends.
The defense says the sending of the gifts was an innocent mistake, and believe he should be free on bail.