Santander Offers EU1.38 Billion Settlement for Madoff victims

[ASusilovic]

By Charles Penty

Jan. 27 (Bloomberg) -- Banco Santander SA, Spain’s biggest lender, will offer a 1.38 billion euro ($1.82 billion) settlement to private clients affected by the alleged Madoff fraud, a spokesman for the bank said in a phone interview today.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aMjIiHTIVHiI&refer=home

Viva Santander !

 

[fluttrader]

So far, the only bank offering such ?

 

[crgarcia]

Quote from ASusilovic:

By Charles Penty

Jan. 27 (Bloomberg) -- Banco Santander SA, Spain’s biggest lender, will offer a 1.38 billion euro ($1.82 billion) settlement to private clients affected by the alleged Madoff fraud, a spokesman for the bank said in a phone interview today.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aMjIiHTIVHiI&refer=home

Viva Santander !

They had to.

How could they recommend a fund they never analyzed?

Not even Madoff holdings were?
If they requested the fund holdings and they got nothing but excuses, it would have been very clear that it is a scam.