Rabobank compensates Madoff investors

Rabobank’s subsidiary Schretlen & Co has offered to partially compensate clients who lost money in US investor Bernard Madoff’s pyramid scheme, the Financieele Dagblad reports on Wednesday.

The asset manager had between 20 and 30 clients with money in Madoff and has offered them 25% of their initial investment back, the paper says. Some 70% have accepted the offer. The paper says the total amount invested in Madoff was around €300m.
The Dutch central bank estimates Dutch investors lost almost €2bn to Madoff, who now faces criminal charges in the US.

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