{"id":9364,"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":"rbs-faces-losses-after-us-fraud","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2008\/rbs-faces-losses-after-us-fraud.html","title":{"rendered":"RBS Faces Losses After US &#8216;Fraud&#8217;"},"content":{"rendered":"<p>Ananova&nbsp;&#8211; Royal Bank of Scotland says it is facing a potential loss of &pound;400m after a Wall Street banker was charged with a massive alleged fraud.<\/p>\n<p>US prosecutors say Bernard Madoff has confessed to defrauding investors of $50bn (&pound;33bn) in a giant pyramid scheme that collapsed in the global financial crisis.<\/p>\n<p>RBS, in which the British government now has a majority stake, says it has exposure through investments in hedge funds that invested with Mr Madoff.<\/p>\n<p>It is one of a number of banks that face big losses in the suspected fraud.<\/p>\n<p>Santander, the Spanish bank that owns Abbey and Alliance and Leicester, said it had more than 2.3bn euros (&pound;2.08bn) worth of exposure.<\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.ananova.com\/business\/story\/sm_3122138.html?menu=business.latestheadlines\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ananova&nbsp;&#8211; Royal Bank of Scotland says it is facing a potential loss of &pound;400m after a Wall Street banker was charged with a massive alleged fraud. US prosecutors say Bernard Madoff has confessed to defrauding investors of $50bn (&pound;33bn) in [&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":[577,2184,4164,1049,1696,2924,597,4163,147,65,4151,600,236,1657,1158],"class_list":["post-9364","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","tag-6-million","tag-bad-taste","tag-bank-of-england","tag-chief-financial-officer","tag-friends-provident","tag-henry-m-paulson","tag-intangible-assets","tag-jeffrey-tucker","tag-journalism","tag-june-14","tag-new-evidence","tag-royal-bank-of-scotland","tag-trillion","tag-undisclosed-sum","tag-wilber"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9364","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=9364"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9364\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}