France opens Madoff inquiries

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Two new preliminary inquiries linked to Wall Street fraudster Bernard Madoff have been opened in Paris, bringing the number of investigations in France to three, the public prosecutor's office said Saturday.

PARIS - The first inquiry was initiated in January following a complaint by a 66-year-old Parisian woman who indirectly invested EUR 540,000 (USD 730,000) with Madoff via Swiss bank UBS in Luxembourg.

Since then, two new complaints have been received from people who said they were also victims.

Madoff, 70, faces a sentence of up to 150 years for fraud, money laundering, perjury and theft in the United States.

AFP / Expatica

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