By Charles Penty Jan. 27 (Bloomberg) -- Banco Santander SA, Spainâs biggest lender, will offer a 1.38 billion euro ($1.82 billion) settlement to private clients affected by the alleged Madoff fraud, a spokesman for the bank said in a phone interview today. http://www.bloomberg.com/apps/news?pid=20601087&sid=aMjIiHTIVHiI&refer=home Viva Santander !
They had to. How could they recommend a fund they never analyzed? Not even Madoff holdings were? If they requested the fund holdings and they got nothing but excuses, it would have been very clear that it is a scam.