Wall Street fraudster's UK business operations will be investigated

The Serious Fraud Office is opening an investigation into Bernard Madoff’s UK business operations.

The focus of the investigation will be on UK victims and any criminal offences that might have been committed in the UK. The decision follows receipt of an interim report given to the SFO by Grant Thornton, provisional liquidators in the UK.

The SFO said it is liaising closely with law enforcement counterparts in the United States and with the City of London Police. The action follows US revelations before Christmas and public concern in the UK about the robustness of Madoff’s UK operations.

Richard Alderman, SFO director, said: “This is a good example of the SFO’s new, faster, approach to tackling fraud.

"The public say they want us to take early action and this is what we are doing. We will work closely with other law enforcement agencies to discover the truth behind the collapse of these huge financial structures. And we again ask for help from ex-employees and others.”

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