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Serious fraud office set to probe Madoff UK business

US fund manager Bernard Madoff is set to see his UK operation come under extreme scrutiny from the SFO as the investigation into his worldwide activities continue to grow. He is currently at the centre of an alleged $50 billion fraud in US where it is alleged that investment funds which caught the eye in some of the richest investors in the world were nothing more than pyramid schemes.

For those unaware of a pyramid scheme, this is an investment scheme which uses funds from new customers to pay income to existing customers without actually investing their money. In the end, once the flow of new customers dries up the schemes can quickly come to a halt as cash balances literally disappear. The exact circumstances of the Bernard Madoff scheme are still shrouded in secrecy although many cannot believe how he was allowed to get away with the alleged investment fund fraud for literally decades.

As ever, there is intense speculation that the UK activities may well also be based upon fairly rocky foundations put until the SFO have carried out a complete investigation of Madoff's UK operations this is just pure speculation.

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