Prosecutors: Madoff was Ready to Send Out $173M

NEW YORK – Prosecutors say Bernard Madoff had $173 million in signed checks in his office desk that he was ready to send out at the time of his arrest last month.

The detail was provided in a court filing Thursday as prosecutors argued that Madoff should have his bail revoked and be sent to jail. They said the 100 checks were further evidence that he wants to keep his assets away from burned investors.

Investigators previously have said that Madoff had planned on distributing more than $200 million to his closest friends and family after he realized his scheme had unraveled. He was also accused of sending more than $1 million worth of jewelry to friends and family over the holidays.

Defense lawyers say he is not a risk to flee or a danger to community, and therefore should remain free on bail.