{"id":10676,"date":"2009-05-27T00:00:00","date_gmt":"2009-05-27T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"spanish-bank-to-repay-235m-it-withdrew-from-madoff-scheme","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2009\/spanish-bank-to-repay-235m-it-withdrew-from-madoff-scheme.html","title":{"rendered":"Spanish bank to repay $235M it withdrew from Madoff scheme"},"content":{"rendered":"<div class=\"inside-copy\">USA Today &#8211; A Spanish banking giant that channeled $3 billion of its clients&#8217; funds to Bernard Madoff has agreed to repay more than $235 million it withdrew from the confessed Ponzi scheme architect in the months before the scam collapsed in December.<\/div>\n<p class=\"inside-copy\">Pending federal bankruptcy court approval, the deal announced Tuesday by a hedge fund investment subsidiary of Banco Santander would boost the amount recovered to help repay Madoff&#8217;s victims past the $1.2 billion mark.<\/p>\n<p class=\"inside-copy\">The settlement would return 85% of the total sought from Spain&#8217;s largest bank by Irving Picard, the court-appointed trustee seeking Madoff&#8217;s assets for redistribution to thousands of victimized investors worldwide. Picard has so far issued more than $100 million in repayment commitments, a fraction of the total losses.<\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.usatoday.com\/money\/markets\/2009-05-26-spanish-bank-madoff-settlement_N.htm\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>USA Today &#8211; A Spanish banking giant that channeled $3 billion of its clients&#8217; funds to Bernard Madoff has agreed to repay more than $235 million it withdrew from the confessed Ponzi scheme architect in the months before the scam [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[310,8845,4439,6598,4331,78,9152,12250,11855,3283,9960,11148,11528,4504,129,11378,4248,12252,4819,12251],"class_list":["post-10676","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-100-million","tag-architect","tag-assets","tag-banco-santander","tag-bernard-madoff","tag-commitments","tag-court-approval","tag-federal-bankruptcy-court","tag-fraction","tag-fund-investment","tag-giant","tag-hedge-fund","tag-investment-subsidiary","tag-investors","tag-losses","tag-picard","tag-ponzi-scheme","tag-redistribution","tag-trustee","tag-usa-today"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10676"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10676\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}