Venezuelan President Hugo Chavez announced that his government will go ahead with the nationalisation of the local unit of the Spanish bank Grupo Santander. The bank owns Banco de Venezuela, one of the largest in the OPEC nation's financial system.
The alleged fraud by US broker Bernard Madoff could affect up to three million victims, directly and indirectly, according to information collected from over 30 law firms around the world.
Casualties in a scandal involving New York broker Bernard Madoff include Spain's bank Santander, with potential losses of up to €2.3 billion; France's BNP Paribas, €350 million; Natixis, €450 million; and banks in Japan and Switzerland.
Santander 
