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UK considers bringing charges against Madoff

New York Times / March 28, 2009
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British authorities said they were making progress in their investigation into whether workers in London helped the disgraced financier Bernard L. Madoff carry out his Ponzi scheme and that charges in the case might be filed this year.

"The British operations were a cog in the giant washing machine," David Jones, a spokesman for the country's Serious Fraud Office, said yesterday, adding there were, however, still "lots of questions to ask."

He declined to specify who or how many people had been questioned in the inquiry and exactly how long it might run.

The fraud office part of the criminal justice system, initially opened its investigation into the British operations of Madoff in January, focusing on residents who lost investments and whether any criminal offenses were committed on British soil. "We would expect to bring any charges - assuming the evidence is there - this year," Jones said.

Documents show that Madoff Securities International had about $170 million in assets as of December 2007.

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