NEW YORK – Bernard Madoff (MAY'-dawf) is giving up rights to his business, along with the company's artwork and entertainment tickets.

The agreementis in a New York court document filed late Monday.

The trustee for the liquidation of Bernard L. Madoff Investment Securities LLC asked a federal judge to let him take over the assets to benefit its customers.

A criminal complaint charges Madoff with securities fraud. He's accused of squandering more than $50 billion.

The trustee told a judge that Madoff will voluntarily give up all ownership rights to his business. He'll also give up rights to three pieces of business real estate.

My goodness this guy needs to be stripped of everything! Oh and I'll be posting updates since I got my computer up and running! Thanks again!