A US judge allowed disgraced investor Bernard Madoff to remain free on bail Monday, rejecting an attempt by prosecutors to send him to jail for mailing more than $1 million in jewelry to family and friends over the holidays. The decision means Madoff will avoid having to leave the comfort of his $7m. penthouse and await trial in a cramped jail cell with nothing but bunk beds, a sink and toilet. Madoff will remain under house arrest and under the constant watch of security guards. The ruling further outraged investors who have been clamoring for Madoff to be sent to jail for allegedly carrying out the largest financial fraud in history.