RENEE MONTAGNE, host: NPR's business news starts with Madoff victims fighting for their money.</s>RENEE MONTAGNE, host: It's not only Americans fighting to get back money lost in Bernard Madoff's vast Ponzi scheme. So are many Europeans. French investors, for example, lost an estimated $700 million in funds tied to Madoff. Yesterday, France's top market watchdog pushed the giant Swiss Bank UBS to reimburse investors for their losses. UBS acted as a, quote, "custodial bank" to those funds. But in a statement, UBS said investors and their advisors knew their money was being placed with Madoff, so it's not responsible for the losses.
French investors lost an estimated $700 million in funds tied to Bernard Madoff's Ponzi scheme. France's top market watchdog pushed the giant Swiss bank UBS to reimburse investors for their losses. UBS acted as a "custodian bank" to those funds. In a statement, UBS said investors and their advisors knew their money was being placed with Madoff, so it's not responsible for the losses.