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article imageMadoff's UK offices to be investigated

By Jane Fazackarley     Mar 27, 2009 in Business
It has been suggested that offices in the United Kingdom owned by Bernard Madoff might have been used as part of the fraud.
In 2008 it is thought that over one billion pounds may have moved between offices owned by Madoff in the United States and his related office in the United Kingdom which is based in London.
The Serious Fraud Office is now looking in to this and who else in the United Kingdom might have been involved. Madoff claims to have worked alone and if he is found guilty he could face a sentence of up to 150 years. Sentencing will be announced in June.
Madoff Securities International Limited which is based in London is thought to have played a major part in helping to move the money.
So far, the companies trading records records have been looked at and no staff from the company have been questioned. The SFO says it will have come to a conclusion about any charges by the end of this year.
Meanwhile, in the United States Prosecutors are now trying to get over $100 million pounds worth from the Madoff family. This includes, cars,homes and boats.
His brother, Peter Madoff is now no longer able to access any of his assets since they have been stopped by a court in the United States. This comes after $500,000 which was in his trust disappeared.
More about Madoff, Investigated, Fraud
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