The pyramid investment scheme set up by alleged US fraudster Bernard Madoff cost Dutch companies and individuals €1.9bn, according to estimates by the central bank.
Dutch banks had a minimum of €1.5bn invested in Madoff’s company, of which €922m came from Fortis. Pension funds had put €166m into Madoff while insurance firms lost €1m, the central bank says.
Private investors account for some €200m of the loss, finance minister Wouter Bos told MPs on Wednesday. More than a thousand private investors are involved.
Football coach Louis van Gaal, Queen Beatrix and her three sons Willem-Alexander, Constantijn and Friso are among those who are thought to have lost money.
Thank you for donating to DutchNews.nl.
We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.Make a donation