Madoff Trials in Geneva Loom Years After Fraudster Confessed

Almost six years after Bernie Madoff admitted his investment firm was based on “one big lie,” two European criminal cases linked to the convicted fraudster are working their way to trial in Geneva. Prosecutor Marc Tappolet is finishing an indictment of five managers at Aurelia Finance SA after the final pre-trial hearing wrapped up, said Henri Della Casa, a spokesman for the Geneva prosecutor’s office. One more witness needs to be questioned in another country before a second case can proceed against the former head of Banco Santander SA (SAN)’s Optimal Investments unit, he said. More on Bloomberg here.