A federal judge has signed an order preventing Bernard Madoff’s assets from being moved as a result of personal bankruptcy.

Judge Denny Chin in Manhattan signed the order Monday.

He said there was probable cause the assets should be forfeited to the U.S. government. The government says it plans to liquidate the assets to benefit investors.

Madoff pleaded guilty to fraud charges last month. The 70-year-old admitted he lost billions of dollars for thousands of investors. He faces up to 150 years in prison at a June sentencing.

Some investors decided to force Madoff into personal bankruptcy, saying it was necessary to preserve assets. The government opposed it but a judge let it occur last week.

(Source: CBS2 HD)