Madoff Trustee Sues HSBC

December 6th, 2010
in Background


PR Newsire reports that Irving H. Picard, the Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC ("BLMIS") has filed a complaint in the United States Bankruptcy Court for the Southern District of New York, alleging 24 counts of financial fraud and misconduct against HSBC Holdings plc, HSBC Bank plc, and affiliated entities (collectively "HSBC").  The Trustee seeks to recover at least $9 billion on behalf of Madoff……….

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