Summary
BANKS have lined up to reveal billions in potential losses as a result of alleged fraud by Wall Street investment manager Bernard Madoff.
The Royal Bank of Scotland - 58% owned by the taxpayer - said pounds 400m was at risk in the hedge funds invested with 70-year- old Madoff, who was arrested last week after police said he admitted a pounds 33bn scheme to defraud investors.See the full content of this document
Extract
Alleged Scam Set to Cost the Big Banks Billions
Spanish bank Santander, which owns Abbey and the savings business of Bradford & Bingley, said its potential exposure was more than pounds 2bn, while...
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