Leterme lost 20,000 euros of his own cash

14th November 2008, Comments 0 comments

The Prime Minister is one of the thousands of Belgians who had investment accounts with Citibank.

14 November

The Belgian Prime Minister Yves Leterme (Flemish Christian democrat) has lost around 20,000 euros of his own cash as a result of the crash of the American investment bank Lehman Brothers. Leterme is one of the thousands of Belgians who had investment accounts with Citibank.

Citibank had in turn invested their money with Lehman Brothers.

Leterme revealed that he had been a victim of the Lehman Brothers’ crash in response to a parliamentary question tabled by the Flemish socialist MP Hans Bonte.

Leterme told parliament: "I myself have an account containing about 20,000 euros with Citibank."

"It appears that they invested the money in Lehman Brothers products and that my account is now worth nothing.”

Mr Leterme has not yet decided if he will join other Citibank customers in lodging a complaint against the bank.

(flandersnews.be/Expatica)

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