SFO to investigate Madoff
The Serious Fraud Office (SFO) is opening an investigation into Bernard Madoff's UK business operations. The focus of the investigation will be on UK victims and any criminal offences that might have been committed in the UK.
The decision follows receipt of an interim report given to the SFO by Grant Thornton, provisional liquidators in the UK. The SFO is liaising closely with law enforcement counterparts in the United States and with the City of London Police.
The action follows US revelations before Christmas and public concern in the UK about the robustness of Madoff's UK operations.
Commenting on the opening of the investigation, the director of the SFO, Richard Alderman said: "This is a good example of the SFO's
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Commercial
imarket adds another MGA to portfolio
Industry-owned imarket has pushed further into the managing general agent sector with Chapman and Stacey Underwriting launching a liability product onto Open GI’s platform via its service.
AIG completes deal for Convex minority stake
AIG has completed the acquisitions of strategic minority ownership stakes in specialty insurer and reinsurer Convex Group and global asset manager Onex Corporation.
Broker Expo Roadshows coming to London, Bristol and Manchester in 2026 – sign up now
Building of the success of the Broker Expo in Birmingham, Insurance Age is going on the road in 2026.
Swansea broker Compare buys £1.5m GWP book of clients
Swansea-based Compare Insurance has acquired the book of clients from Insure My Business, adding £1.5m gross written premiums to the business.
Commercial Express adds Fortegra as capacity provider as MGU plans step forward
Managing general agent Commercial Express has struck a capacity partnership with Fortegra, Insurance Age can reveal.
Interview: Allianz’s chief distribution officer Nick Hobbs
Nick Hobbs, chief distribution officer at Allianz UK, tells Insurance Age about the importance of the provider’s regional footprint now including broker hubs, the challenges of the soft market and its MGA appetite as well as the ongoing investment in technology and goals for 2026.
UK commercial softening accelerated to 7% in Q4
The commercial insurance market in the UK softened by 7% in the final quarter of last year, in its eighth drop in a row, according to research by Marsh.
Zurich reaches agreement with Beazley over potential £8bn takeover
Zurich and Beazley have reached an agreement in principle for a deal worth potentially £8bn, clearing the way for a formal bid.