Business

Case against Madoff sons is dismissed in London

NEW YORK — Of the many questions asked about Bernard Madoff’s Ponzi scheme, among the most frequent is whether his sons knew about the fraud despite their staunch insistence that they were kept in the dark.

For the first time, a judge has weighed in, concluding that neither had any knowledge of their father’s scheme.

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Madoff’s sons, Andrew and Mark, won a significant victory Friday when a judge in London dismissed a lawsuit brought against them and six others by the trustee seeking money for victims of the fraud.

Judge Andrew Popplewell dismissed all of the claims against the sons, ruling that neither of them “knew of, or suspected, the fraud” and stated that “their honesty and integrity has been vindicated.”

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Andrew and Mark Madoff managed the legitimate market-making and proprietary trading divisions of their father’s firm. Mark Madoff committed suicide in December 2010.

Neither has been criminally charged in the case.

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