Sense on Cents

Great Britain just took the definition of America’s strongest ally to a whole new level. How so?

News this morning that the U.K.’s Serious Fraud Office (SFO) will not pursue legal action against the local operations of Bernard Madoff Investment Securities is just another kick in the balls to investors everywhere and the innocent Madoff investors especially.

The New York Times highlights this breaking news story in writing, Britain Will Not Pursue Legal Action Against Madoff:

Britain’s Serious Fraud Office said Tuesday that it would not pursue legal action against the local operations of Bernard L. Madoff, the U.S. financier now in jail in the United States.

In a statement, the S.F.O. said its investigation had found “ insufficient evidence to provide a realistic prospect of conviction” against either the company or its directors.

What did investigators find?   (more…)