WEST PALM BEACH, Fla. -- Disgraced financier Bernard Madoff's longtime secretary is unable to make a $5 million bail and will be transferred from Florida to New York to face charges stemming from the huge Ponzi scheme.
A federal magistrate judge ruled Monday that 62-year-old Annette Bongiorno cannot be released until friends and family can come up with sufficient assets to secure the bail. That means Bongiorno will likely remain in custody while being transferred to New York.
Bongiorno and another former Madoff aide were arrested last week on conspiracy, securities fraud and other charges arising from the multibillion-dollar Ponzi scheme. They could each face decades in prison if convicted.
Madoff is serving a 150-year prison sentence.