LONDON (AP) - Britain's Serious Fraud Office says it will not
take action against Madoff Securities Ltd., the British arm of
jailed former Wall Street trader Bernard Madoff's investment
operations.
The SFO said in a statement on Tuesday that there is
"insufficient evidence to provide a realistic prospect of
conviction" against either the company or its directors.
The SFO says that it continues to provide assistance to
regulators in other countries that are still investigating
operations linked to Madoff.
The former Nasdaq chairman was given a 150-year sentence after
pleading guilty last year to fraud and admitting cheating thousands
of investors out of billions of dollars.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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