The US government has asked a New York court to hold Bernard Madoff on remand after the alleged fraudster is said to have breached his original bail conditions, which investigators assert shows his continued danger to the wider community.

The government's petition in the US yesterday stated Madoff had transferred assets, in contravention of his bail terms, just days after being granted bail. The 70-year old is confined to his New York home and tagged around the clock, having been arrested on December 11 and charged with fraud.