Now that Bernard Madoff has pleaded guilty to running the world’s largest Ponzi scheme, Avraham Infeld has a suggestion for what Judge Denny Chin should do with the former New York broker.

“I would love to put him alone on an island with one hundred of the people whose money he has taken, and see what happens,” said Mr Infeld, who formerly headed an Israel-based foundation that had invested its entire $200m endowment with Mr Madoff.