MADOFF ORDERED TO FORFEIT OVER $170 BILLION
June 27, 2009 12:00 am
• Last Updated: June 27, 2009 2:35 am
New York - A federal judge has ordered disgraced financier Bernard Madoff to forfeit over $170 billion. Prosecutors say U.S. District Judge Denny Chin entered a preliminary order of forfeiture on Friday. The order forces Madoff to give up his interests in all property, including real estate, investments, cars and boats. Prosecutor say the government also settled claims against Madoff's wife. Under the arrangement, the government obtained Ruth Madoff's interest in all property, including more than $80 million of property she claimed was hers. Federal prosecutors want Madoff to be sentenced to 150 years in prison.