Madoff’s $50 Billion ‘Lie’ Ensnares Victims From Paris to Tokyo
Dec. 15 (Bloomberg) — Bernard Madoff’s scam that allegedly cost investors $50 billion ensnared firms stretching from Paris to Tokyo to Madrid. BNP Paribas SA, France’s biggest bank, has as much as 350 million euros ($472 million) at risk from Madoff’s investment advisory business, the bank said yesterday. Nomura Holdings Inc., Japan’s largest brokerage, has 27.5 billion yen ($302 million) at risk from Madoff’s funds, while Spain’s Banco Bilbao Vizcaya Argentaria SA may face up to 300 million euros in losses.
December 15, 2008, 9:07am
