BUSINESS BRIEFING / COURTS

TIMES WIRE REPORTS

Bernard Madoff's wife will have to look for a new home after a court approved the sale of the couple's luxury Manhattan apartment and she agreed to forfeit $80 million in assets.

Court documents filed Friday night show Ruth Madoff, 68, who has said nothing in public about her financier husband's crimes in the six months since his arrest, would be left with $2.5 million in cash.

Madoff, 71, is to be sentenced in federal court in New York on Monday after pleading guilty in March to criminal charges of running Wall Street's biggest investment fraud. Prosecutors called Friday for a 150-year prison term. Madoff's lawyer has said his client should serve 12 years.

In an agreement with prosecutors approved Friday by U.S. District Judge Denny Chin, Bernard Madoff forfeited all rights to any assets flowed through his decades-long Ponzi scheme. The accord puts that amount at $170 billion.

The properties to be sold include the couple's $7-million apartment and primary residence in Manhattan, an $11-million house in Palm Beach, Fla., and a $3-million home in Montauk, N.Y.

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