Updated 03/03/2009 12:09 PM
Madoff Gives Up Rights To His Business
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Accused swindler and former NASDAQ chairman Bernard Madoff has voluntarily agreed to give up rights to his business, according to court documents filed late yesterday.
A trustee for the liquidation of the company asked a judge to let him take over the assets, which includes real estate, artwork and entertainment tickets, to benefit the company's customers.
Madoff is still fighting to keep his personal assets.
According to court papers, Madoff claims his $7 million Upper East Side penthouse and $62 million held in his wife Ruth's accounts are not subject to seizure. The papers claim the apartment and the $62 million are not related to the $50 billion Ponzi scheme Maddoff is accused of carrying out.
Madoff has been confined to his apartment under house arrest since December.