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Feds Ready to Seize Madoff's Loot

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Rumor has it that the feds are going after Bernie Madoff's assets, but is it true?

You can bank on that rumor! With the Ponzi scheme operator behind bars and his wife Ruth and other family members under investigation, there's a run on the couple's frozen assets. The feds are targeting a long list of luxury items owned by the Madoffs -- including $65K in cutlery, a piano worth $40K and $2.5 million in jewelry (Madoff was caught attempting to mail off an assortment of luxury watches last month). His NYC penthouse is said to be worth $7 million.

Madoff pled guilty last week to a laundry list of financial crimes and is in jail awaiting sentencing. He faces up to 150 years for his role in the multi-billion-dollar scam.

"Extra" has obtained a document detailing the government's notice of intent to seek forfeiture of Madoff's assets. Check it out here!

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