There is not a lot of detail in this article, but the Kuala Lumpur News reports today that direct and indirect victims of the alleged fraud by Bernard Madoff have reached 3 million. The article cites Spanish law firm Cremades Calvo-Sotelo for the statistic, and states that the firm’s president said the figure was calculated “based on information collected from over 30 law firms around the world, which are representing victims of the alleged pyramid scheme.”
Last week Cremades Calvo-Sotelo filed a securities class action lawsuit in federal court Florida on behalf of shareholders who had invested in a Madoff fund run by Santander, Spain’s largest bank.
Read the Kuala Lumpur News article
