Editing ABN AMRO (section)

==Controversies==

===Madoff fraud===
As a result of the alleged fraud by [[Bernard Madoff]], Fortis Bank Netherlands (Holding) NV lost 1 billion euros on loans from the bank (through its subsidiary Prime Fund Solutions, part of Fortis Merchant Banking) to [[hedge fund]] and as collateral investments in Bernard Madoff Investment Securities.<ref>{{Cite web |date=2009-02-06 |title=Verklaring ten aanzien van de Madoff fraude |trans-title=Statement regarding the Madoff fraud |url=http://www.fortis.com/press/info/NL_FBN_Madoff_15122008.pdf |url-status=dead |archive-url=https://web.archive.org/web/20090206030053/http://www.fortis.com/press/info/NL_FBN_Madoff_15122008.pdf |archive-date=2009-02-06 |access-date=2023-04-25 |language=nl }}</ref> The Dutch government said on behalf of Fortis that a claim against the [[Securities and Exchange Commission]] would be considered.

===Goldman Sachs SEC lawsuit===
{{Main|Goldman Sachs#SEC civil fraud lawsuit, filed in April 2010|l1=Goldman Sachs civil fraud lawsuit}}

ABN AMRO was mentioned by the [[United States Securities and Exchange Commission]] (SEC) in court filings when it sued Goldman Sachs and one of Goldman's [[collateralized debt obligation]] (CDO) traders on 16 April 2010. The SEC alleges that Goldman defrauded both [[IKB Deutsche Industriebank]] and ABN AMRO by its failure to disclose that the CDOs it sold to both banks were not assembled by a third party, but instead through the guidance of a hedge fund that was counterparty in the CDS transaction. This hedge fund, [[Paulson & Co.]], stood to reap great financial benefit in the event of default.<ref name="sec">{{cite press release| url=https://www.sec.gov/news/press/2010/2010-59.htm| title=SEC Charges Goldman Sachs With Fraud in Structuring and Marketing of CDO Tied to Subprime Mortgages| date=16 April 2010| publisher=US Securities and Exchange Commission| access-date=2013-02-19| archive-date=2013-02-14| archive-url=https://web.archive.org/web/20130214105713/http://www.sec.gov/news/press/2010/2010-59.htm| url-status=live}}</ref><ref name="huffington">{{cite news| title=Goldman Sachs SEC SETTLEMENT Reached -- And Stock SOARS| url=http://www.huffingtonpost.com/2010/07/15/goldman-sachs-sec-settlem_n_648045.html| work=[[The Huffington Post]]| publisher=huffingtonpost.com| date=15 July 2010| access-date=2013-02-19| archive-date=2013-05-21| archive-url=https://web.archive.org/web/20130521133644/http://www.huffingtonpost.com/2010/07/15/goldman-sachs-sec-settlem_n_648045.html| url-status=live}}</ref>

===Diamond Financing===

ABN AMRO bank is one of the main banks financing the diamond business. ABN AMRO had branches in [[Botswana]], [[New York City|New York]], [[Hong Kong]], [[Mumbai]] and [[Dubai]], all of which they have sold or are in process of closing. They currently only have a branch in [[Antwerp]],  where they are also shrinking their business.