Royal Dutch Shell Plc  .com Rotating Header Image

Shell OAPs are latest victims of disgraced billionaire Madoff

Daily Mail

By RUPERT STEINER
Last updated at 10:37 PM on 17th December 2008

Pensioners from oil giant Shell have emerged as the latest victims of disgraced financier Bernard Madoff. 

The former chairman of the Nasdaq Stock Exchange stands accused of a £32billion fraud. 

The firm’s Dutch pension fund said it was exposed to the tune of £29million. 

The consequences of Bernard Madoff's securities fraud have been wide-reaching, stretching as far as Shell's pension fund and two sisters living in London

The consequences of Bernard Madoff’s securities fraud have been wide-reaching, stretching as far as Shell’s pension fund and two sisters living in London

Other casualties include French Bank BNP Paribas, which announced yesterday one of its divisions had posted an unexpected 11-month loss. 

 

The latest in the fast-moving developments saw Madoff placed under house arrest at his Manhattan flat and fitted with an electronic ankle tag. 

Christopher Cox, boss of the Securities and Exchange Commission, has said he is probing whether staff at the regulator ignored numerous complaints against Madoff. 

Allegations have now emerged that a Madoff family member may have been married to a former SEC official. 

SOURCE ARTICLE

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.