Bernard Madoff's London-based investment business has been formally placed into liquidation, in a move that could shed new light on the fraudster's operations, according to The Sunday Times.
Liquidators were appointed on Thursday to wind up Madoff Securities International, which was known as a private piggy bank for Madoff and his family. Although the London arm was placed in provisional liquidation when Madoff was arrested in December 2008, a series of bureaucratic delays have slowed the winding-up process. As a result, a number of formal documents detailing the assets and liabilities of the business have never been published. A full statement of affairs is now expected within weeks, followed soon after by a formal creditors' meeting. The last filed accounts of Madoff...
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