ABN Amro Asks Judge to Toss Madoff Suit, Says $490 Million Lost

ABN Amro Bank (Ireland) Ltd. asked a judge to dismiss a lawsuit by the liquidator of Bernard Madoff’s firm, saying it lost $490 million in the Ponzi scheme, out of $725 million it invested. As one of the con man’s biggest losers, “it is simply not plausible” that the bank suspected fraud, as the trustee alleged, it said in a federal court filing in Manhattan yesterday.

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: John Pickering at jpickering@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.