Many investors were taken aback with the news that the UK’s Serious Fraud Office (SFO) is shelving the 12-month inquiry into Madoff Securities International. The SFO said it will continue investigation into “wider aspects” of the fraud, but critics are still calling this a cop out.
Investigators had in the past described MSI as "an important cog in the washing machine" – a reference to Madoff's efforts to move cash around the world to help give the impression that profits were being generated.
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