Source: Deadline to Indict Bernard Madoff for Fraud Extended by a Month

A person familiar with the Bernard Madoff case says a deadline to indict him on fraud charges has been extended by 30 days.

The government faced a Wednesday deadline to obtain a grand jury indictment. But lawyers agreed to delay the indictment as authorities continue to investigate the case.

The person spoke on condition of anonymity because the investigation is ongoing.

Madoff was arrested in December after investigators said he confessed to his sons that he had swindled investors of $50 billion in a Ponzi scheme.

The 70-year-old former Nasdaq chairman remains confined to his Manhattan penthouse under house arrest.

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Click here to read the case against Bernie Madoff. (pdf)