Madoff’s U.K. Outfit Played Big Role in Swindle

Sunday, Mar 29, 2009  |  Updated 11:08 PM CDT
View Comments (
)
|
Email
|
Print
Blame Them For Your Empty Wallet

Officials in the U.K. are looking to charge the cronies of Bernie Madoff, a.k.a. prisoner no. 61727-054.

advertisement
Photos and Videos
More Photos and Videos

Bernard Madoff’s U.K. operations “played a significant role in the operation” of the New York financier’s massive Ponzi scheme, according to a report in The Wall Street Journal.

U.K. authorities investigating the investment swindle believe criminal offences have been committed by people other than Madoff, and they expect to start filing charges within months, according to the newspaper report.

The U.K.’s Serious Fraud Office, which opened a criminal investigation into Madoff’s British business earlier this year, also said his wife Ruth received $2 million in payments from Madoff's U.K. business in late November, just weeks before he was arrested, the Journal reported.

British investigators are focusing on significant amounts of money that went back and forth between Madoff’s trading operations in the United States and his U.K. operation, called Madoff Securities International Ltd., the paper said.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
Get Our Weather App
Stay ahead of the storm with the NBC... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out