Irving Picard Sues HSBC for $9 Billion

The court-appointed trustee liquidating Bernard Madoff’s former investment firm has filed a lawsuit against HSBC for $9 billion for allegedly aiding the most massive Ponzi scheme in history.
The trustee, Irving Picard, alleged that London-based HSBC Holdings PLC (HBC) enabled Madoff’s fraud “through the creation, marketing and support of an international network of a dozen feeder funds based in Europe, the Caribbean, and Central America,” in a statement released Sunday. – CNNMoney

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