Arrest of Bernard Madoff, more bad news for Spain.?

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    Latest news on this fraud.

    http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3725670/Celebrated-Wall-Street-trader-arrested-over-50bn-con.html

    According to the Spanish newspaperABC. many Spanish investors have funds invested with Mr Madoff ´s hedge funds. Banco Santander invested over $3bn for clients, and an investment company owned by the son of the Banco Santander ,President , has invested funds for wealthy Spanish investors. The amount involved with Optimal-Santander and M+B Capital Advisors is about $ 3,7bn.

    Another large investor in Medoff´s funds was Fairfield Sentry and Sima which also operates in Spain , The amount involved has not be disclosed.

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