Page last updated at 12:19 GMT, Wednesday, 28 January 2009

Bank offer to Madoff victims

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Spanish bank Santander says it will compensate private clients who suffered losses from the alleged fraud by US businessman Bernard Madoff.

The bank said it will offer clients a 1.38bn euro ($1.8bn;£1.3bn) settlement.

Lawyer Marc Gross represents clients taking legal action against banks who invested with Madoff.

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