Madoff’s UK staff probed
Criminal charges may be brought against some of the London employees of fraudster Bernard Madoff by the end of this year, the Serious Fraud Office has said.
Senior British prosecutor Richard Alderman said: “I’m advised by the team that we can expect charges before the end of the year”.
Alderman added that investigators were looking at possible criminal activity by the so-called feeder funds “to find out if there was money….that we would then be able to recover for the victims”.
According to court documents, the London office traded using the personal accounts of Bernard Madoff and members of his immediate family.
The assets and bank accounts were used by Madoff to buy luxury yachts, cars and furnishings for himself and members of his family.
Madoff is currently serving a 150- year sentence for the £40.7bn fraud.