Bernie Madoff's Ponzi scheme is still costing banks billions

The Bernie Madoff investment scandal was uncovered in 2008 but it is still reverberating on banks’ balance sheets today. HSBC ...
American Banker

Madoff Ponzi scheme haunts HSBC, which faces $1 billion hit

A Luxembourg court ruled against the bank in a long-running lawsuit tied to its custodial role for a fund that invested in ...

HSBC faces $1bn hit from Bernie Madoff Ponzi scheme tussle

HSBC is facing a $1.1bn (£826m) hit after losing a long-running legal battle with investors over Bernie Madoff’s Ponzi scheme ...
TipRanks on MSN

HSBC Warns of $1.1B Charge Tied to Madoff Ponzi Scheme Ahead of Q3 Earnings

HSBC Holdings ($HSBC) ($GB:HSBA) is bracing for a financial setback tied to one of the biggest frauds in history. Ahead of ...

HSBC expects $1.1bn hit from legal fight over Madoff’s Ponzi scheme

HSBC will set aside $1.1bn for a lawsuit brought by investors who lost money in Bernard Madoff’s multibillion-dollar Ponzi ...

HSBC to take $1.1 billion hit after Luxembourg court ruling in Madoff case

HSBC Holdings said on Monday it would book a $1.1 billion provision in its third-quarter results after losing part of an appeal in a long-running lawsuit tied to Bernard Madoff's Ponzi scheme, history ...

HSBC takes £826m hit after Madoff fraud ruling

The London-headquartered lender will put by the provision in third quarter results due to be published on Tuesday.
Inquirer Business on MSN

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 ...