Bernie Madoff's brother and his two sons are under investigation for alleged tax fraud, it has been reported.
Insider sources told the Wall Street Journal that Peter Madoff, the brother of the notorious Ponzi scheme fraudster, and sons Andrew and Mark Madoff are under investigation from US prosecutors.
Peter Madoff was chief compliance officer of Bernard L Madoff Investment Securities, while the two sons helped run the company's market-making unit, which was not involved in the multi-billion Ponzi scheme.
However, the nature of the alleged offences has not been revealed, while representatives of the three men have denied they had any knowledge of fraudulent activities.
Last September, the three men, along with a niece of Bernie Madoff, were targeted in a $198 million lawsuit pertaining to the Ponzi scheme.
The court-appointed trustee Irving Picard claimed that all four of them held executive positions within the firm and should have known about the fraud, which went on for 20 years.
"Whether or not they have a criminal problem we will pursue them as far as we can pursue them," said Mr Picard at the time.
"If that leads to bankrupting them - then that's what will happen."
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