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UK authorities reject call for charges against Madoff arm

The Serious Fraud office (SFO) has this week confirmed there will be no charges against directors and employees of the Madoff UK arm which was mentioned as a prominent part of the group in an investigation by the US authority. While Bernard Madoff himself is currently serving a term of 150 years in a US prison regarding the alleged $65 billion Ponzi scheme it looks as though his fellow directors were unaware of what was going on behind the scenes.

The SFO, having refused to press charges due to a lack of evidence, is now part of an international team which is still attempting to unravel the complex Bernard Madoff network of companies and ultimately reclaim as much money as possible to compensate investors. The fact that his operations span the length of the globe is causing major problems and with the authorities apparently in receipt of evidence suggesting that the fraud began back in the 1990s it could be difficult to trace every single penny invested on behalf of investors.

There is still some mystery as to how the Madoff situation was allowed to continue for well over a decade when apparently a number of regulators around the world had been tipped off about potential irregularities.

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