Bernard Madoff's freedom will again be at stake again as a federal court holds a bail hearing scheduled for Wednesday.
Madoff will appear at the hearing, sources told NBC Tuesday evening.
A magistrate judge ruled Monday that Madoff could remain free on $10 million bail despite government efforts to have him jailed. Prosecutors said he mailed more than $1 million in jewelry and heirlooms to family and friends over the holidays -- a sign he cannot be trusted, they argued.
Now, prosecutors are appealing to a federal judge to have his bail revoked.
Judge Lawrence McKenna has been assigned the case.
The fact that Madoff has been able to spend his daysin his luxury apartment -- and not jail -- has stirred up outrage among investors.