Bankrupt bank boss liable for €20m

The official receivers have made the owner and CEO of bankrupt DSB Bank liable for €20m in damages for the bankruptcy of his management company, DSB Beheer.

Dirk Scheringa’s bank got into financial difficulties after a run on savings prompted by a campaign by angry customers who said they were over-sold mortgages and charged too-high fees on insurance policies. DSB Bank was declared bankrupt in October 2009, together with DSB Beheer.
The receivers for the management company have taken possession of two houses and of a claim by Scheringa on the receivers dealing with the bank bankruptcy, RTL tv news reports.
Scheringa, who also owned Alkmaar football club AZ and an extensive art collection, lost his savings when DSB Bank went bankrupt. AZ and a museum planned for the art collection were managed by DSB Beheer.
According to the receivers, Scheringa was in sole charge of both companies and his behaviour and ignorance were fatal.