The US government hopes to seize some of Bernard Madoff’s fortune after he admitted 11 counts of fraud and money laundering, for which he could be sentenced to 150 years in prison.

The US Attorney’s office is seeking to take control of some of Madoff and his wife Ruth’s $826m (£586m) in assets after he was convicted of Wall Street’s biggest fraud, running a “Ponzi” scheme involving as much as $177bn over the last three decades.

A court filing submitted to the US District Court in lower Manhattan yesterday shows that assets sought by the authorities include the couple’s four homes – in New York, Montauk, Palm Beach and the south of France – as well as Mrs Madoff’s $65,000 silverware collection and a piano.

Daily Telegraph