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Madoff money found in Isle of Man

Investigators in the United States say they have tracked money from the biggest financial fraud in history to the Isle of Man.

Cash from Bernard Madoff's Ponzi scheme made it to the Island, according to records filed with Manhattan Federal Court.

Those documents show Madoff's London operation, Madoff Securities International Ltd., used Fairbairn Private Bank to handle some of its accounts.

Special trustee Irving Picard, who is handling the US bankruptcy proceedings, says Fairbairn itself wasn't involved in anything improper.

Mr Picard has been looking for Madoff’s assets and has won legal control of the London company, effectively allowing him access to bank accounts and information.

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