{"id":9357,"date":"2008-12-15T00:00:00","date_gmt":"2008-12-15T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"geneva-banks-lost-more-than-4-billion-to-madoff-report","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2008\/geneva-banks-lost-more-than-4-billion-to-madoff-report.html","title":{"rendered":"Geneva banks lost more than $4 billion to Madoff: report"},"content":{"rendered":"<p>Reuters &#8211; Three European banks on Sunday announced a total of about $3.8 billion in exposure to an investment fund run by Bernard Madoff, the U.S. investor accused of running a $50 billion &quot;Ponzi&quot; scheme. <\/p>\n<p>The largest banks of both Spain and France, Santander and BNP Paribas, and Swiss private bank Reichmuth &amp; Co became the latest parties to detail possible losses over investments made with Madoff, who was arrested in New York on Thursday in the alleged fraud.<\/p>\n<p>Santander put its client exposure at over 2.33 billion euros ($3.09 billion). BNP Paribas said it could face a potential loss of 350 million euro from exposure to Madoff-linked investments. And Swiss private bank Reichmuth &amp; Co said it had about 385 million Swiss francs at stake, around $325 million.<\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.reuters.com\/article\/ousiv\/idUSLD12500520081214\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; Three European banks on Sunday announced a total of about $3.8 billion in exposure to an investment fund run by Bernard Madoff, the U.S. investor accused of running a $50 billion &quot;Ponzi&quot; scheme. The largest banks of both [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[577,786,218,63,117,359,93,2565,4151,81,2906,149,3139,1477,236],"class_list":["post-9357","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","tag-6-million","tag-bank-for-international-settlements","tag-citigroup","tag-first-avenue","tag-investment-arm","tag-investment-returns","tag-j-p-morgan","tag-management-meeting","tag-new-evidence","tag-newcastle","tag-peter-thorne","tag-proceeds","tag-rbs","tag-spanish-property","tag-trillion"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9357","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=9357"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9357\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}