Madoff to forfeit billions

NEW YORK (CNN) - As prosecutors asked to jail Bernard Madoff for 150 years, a U.S. District Court judge Friday entered a preliminary order calling on the convicted Ponzi schemer to forfeit more than $170 billion in assets, prosecutors announced.

Madoff's wife, Ruth, will be allowed to keep $2.5 million in funds "in settlement of the claims she would have otherwise brought against the property," acting U.S. Attorney Lev Dassin said.

Madoff, who pleaded guilty to 11 counts, including fraud, money laundering and perjury, is to be sentenced Monday. The forfeitures amount to all of his assets.

Included in the forfeitures are millions of dollars in loans made to family members, employees and friends, all personal property, including paintings, jewelry and furniture, millions of dollars in investment and banking accounts and several pieces of property.