UK: SFO Will Not Bring Criminal Charges Against Madoff’s British Operation
Britain’s Serious Fraud Office will not pursue legal action against the British operations of Bernard Madoff. The New York Times reports that SFO stated that its investigation had found “insufficient evidence to provide a realistic prospect of conviction” against either the company or its directors. SFO left open the possibility of pursuing the network of feeder funds that channeled cash from high-net-worth investors into Madoff’s scheme. Read Securities Docket report here.