The Serious Fraud Office has been investigating whether former Madoff Securities International Ltd. CEO, Stephen Raven, or any London employee of Madoff had knowledge of Madoff’s Ponzi scheme.

Those familiar with the investigation have commented that the U.K. is unlikely to prosecute anyone at Madoff’s London operation because the SFO does not currently have enough evidence to prove that any employee knew about the fraud. In addition, the SFO is currently probing whether anyone at London-based FIM Advisors LLP or 20.20 Medici AG Chair, Sonja Kohn, knew of Madoff’s scheme when they sent him money. FIM Advisors managed Kingate Global Fund Ltd., which invested $2.8 billion with Madoff.

Source: Bloomberg, via my NY colleagues.

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