Madoff's bail hearing canceled
Wife of alleged leader of Ponzi scheme surrenders her passport; Madoff subject to home detention and curfew as part of bail deal.
NEW YORK (CNN) -- A bail hearing for Bernard Madoff, accused of leading a Ponzi scheme from his investment advisory business, was canceled Wednesday after a resolution was reached on specific bail conditions, according to court documents.
Madoff's wife, a co-signer on his bond, agreed to surrender her passport - a condition sought by the prosecution. In addition, Madoff will be subject to home detention and electronic monitoring with a 7 p.m.-to-9 a.m. curfew, according to the documents.
Madoff previously was released on a $10 million personal recognizance bond.
Prosecutors allege Madoff's Ponzi scheme may have cost some of the world's largest financial firms hundreds of millions of dollars apiece. On Monday, a federal judge issued an order that may help investors swindled by the scheme recover some of their money.