Rabo Real Estate Group continued working on the real estate fraud case referred to by FIOD-ECD, the Dutch national fiscal and economic investigation service, and the Public Prosecutor’s Office as the Klimop case in 2012, focusing increasingly on recourse against the accused parties. The case also provides constant input for our Customer Due Diligence (CDD) policy. This investigative work was done with the assistance of external parties, and EUR 28 million has been spent on forensic investigations and outside legal assistance since 2007. The court issued a ruling in the criminal case against the accused early in 2012, which found most of them guilty of fraud. The other accused were convicted at the end of the year. The Public Prosecutor’s Office and the accused lodged appeals in almost every instance. The appeals will be heard in the course of 2013. With the approval of the Public Prosecutor’s Office, settlements were reached in the year under review between the accused and the aggrieved parties, i.e. Philips Pension Fund and Rabo Real Estate Group. Talks are still ongoing with the accused parties about another settlement. In addition, civil proceedings are pending to recover losses from accused parties who are unwilling to reach repayment settlements.