Danske Bank customers have invested DKK 75 million in Madoff fund

[Italkcash Newsfeed]

Danske Bank does not expect that it will itself suffer any losses from the American fraud scandal involving the Wall Street veteran Bernard Madoff. But some of its customers have made investments in Madoff funds.
»Danske Bank does not expect to be affected negatively, as we do not have any direct engagements with Madoff. But some of our customers – mainly private banking customers – have invested in the fund called Danske Leveraged Fond. The investments amount to about EUR 10 million,« press officer Jonas Torp told the news agency Direkt.
»As our customers’ representative we shall now try as hard as we can to retrieve some of that money. But at present we cannot say anything about the perspectives,« Jonas Torp added.
Through Nordea Liv & Pension Nordea has also made investments on behalf of its customers in some of the Madoff arrangements. Here the investments amount to EUR 48 million.