HSBC is facing a $1.1bn (£826m) hit after losing a long-running legal battle with investors over Bernie Madoff’s Ponzi scheme ...
A Luxembourg court ruled against the bank in a long-running lawsuit tied to its custodial role for a fund that invested in ...
The earnings come after the bank said on Monday it would set aside $1.1 billion to cover litigation by investors who lost ...
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HSBC flags $1.1B charge linked to Madoff fraud
HSBC Bank on Monday revealed a financial charge of $1.1 billion linked to money sought by a European fund caught up in the late Bernard Madoff’s huge investment fraud. The London-headquartered lender ...
Among the key issues raised is whether the trial judge wrongly restricted testimony supporting Bankman-Fried’s claim that he acted on the advice of counsel.
HSBC Holdings ($HSBC) ($GB:HSBA) is bracing for a financial setback tied to one of the biggest frauds in history. Ahead of ...
Dow Jones Top Financial Services Headlines at 12 AM ET: Tom Hayes, Face of Libor Scandal, Sues UBS for $400 Million | UnitedHealth ... The former banker spent five years in prison for his involvement ...
The largest and most famous modern-day Ponzi scheme was orchestrated by Bernie Madoff, who was arrested in 2008 ... He was sentenced to 150 years in prison, but died in 2021. Kristi Waterworth has ...
As prosecutors asked to jail Bernard Madoff for 150 years, a U.S. District Court judge Friday entered a preliminary order calling on the convicted Ponzi schemer to forfeit more than $170 billion in ...
The lender reported pre-tax profits of 7.3 billion US dollars (£5.5 billion) for the third quarter, down from 8.5 billion US ...
The London-headquartered lender will put by the provision in third quarter results due to be published on Tuesday.
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