Reuters scores exclusive in Madoff scandal story

Reuters scored an exclusive in the Bernard Madoff scandal story, the largest fraud in Wall Street history, revealing that the disgraced financier had transferred $160 million to his UK operation in 2007. The Jan. 8 story came as U.S. authorities hunted for the missing Madoff money and as the UK’s Serious Fraud Office began an investigation into Madoff’s UK operations. TV channel Sky News ran the story as the sole item on its breaking news ticker, citing Reuters, and kept it running for most of the evening in its updates, while CNBC also cited and discussed the story live on air. Dow Jones cited Reuters. The Financial Time’s front page splash the next day was based on, and cited, the Reuters story, which was also picked up by other newspapers such as the Independent .