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.

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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.

On Tuesday, the Securities and Exchange Commission said it had launched an internal investigation into how the scheme was able to continue unchecked for at least 10 years. To top of page

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