Bush nominates Arnall as Hague ambassador

1st August 2005, Comments 0 comments

1 August 2005, AMSTERDAM — US President George W Bush has nominated billionaire businessman Roland Arnall as America's next Ambassador to the Netherlands.

1 August 2005

AMSTERDAM — US President George W Bush has nominated billionaire businessman Roland Arnall as America's next Ambassador to the Netherlands.

Arnall has generated media attention in the US because he used to be a major donor to the opposition Democratic party and only began supporting the Republicans in 2002.

Since then Arnall and his wife have been regarded as some of the biggest financial supporters of Bush's election campaigns.

The media has also focused on his mortgage lending company Ameriquest Mortgage Company which has been dogged by consumer complaints and lawsuits accusing it of fraud and falsification of documents.

Arnall is the founder and major shareholder in the company which gives loans to people with poor credit ratings.

Ameriquest has said it had agreed to pay as much as USD 50 million (EUR 40.9 million) to settle allegations it had defrauded borrowers in four states, the Los Angeles Times has reported.

The company has also announced it has set aside USD 325 million for potential settlements with 30 states in the US over its lending practices.

[Copyright Expatica News + ANP 2005]

Subject: Dutch news

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