UK Fraud Office Starts Madoff Investigation

By Jane Wardell

LONDON -- Britain's Serious Fraud Office opened an investigation into the British business operations of Bernard Madoff on Thursday, raising the prospect that the alleged Wall Street fraudster could face criminal charges here.

The fraud office, which is cooperating with its U.S. counterparts, said its investigation would focus on British victims and "any criminal offenses that might have been committed in the U.K."

Responding to criticisms that it has moved too slowly in the past against illegal activity in London's huge financial sector, the agency said the inquiry showed its "new, faster approach to tackling fraud." ...