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Browse: Home / 2008 / December / 16 / Holland: Dutch Taxpayers’ Madoff Loss Could Be €850m-€1n

Holland: Dutch Taxpayers’ Madoff Loss Could Be €850m-€1n

By Securities Docket on December 16, 2008, 9:28 am

The Madoff-related loss by the nationalized Dutch arm of Fortis could be €850m-€1n, Fortis Bank Nederland said yesterday.  FT Alphaville reports that Fortis Bank had been lending to funds which invested with Madoff.

The possible loss to Dutch taxpayers works out to €51-€60 (US$70-US$80) for every man, woman and child in the country, according to FT Alphaville.

Read the FT Alphaville article

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Posted in Global | Tagged Financial Fraud, Holland

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