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 ...
The American Bazaar
HSBC to set aside $1.1 billion over Madoff fraud case
HSBC faces a $1.1 billion provision after a Luxembourg court ruling linked to Bernie Madoff’s Ponzi scheme, underscoring the ...
InvestmentNews
HSBC braces for $1.1 billion Madoff hit after court setback
HSBC is preparing to absorb a $1.1 billion hit in its third-quarter results after a Luxembourg court ruled against the bank ...
HSBC Braces for $1.1 Billion Hit From Madoff Lawsuit
A Cayman Islands fund sued Europe’s biggest bank soon after Bernie Madoff’s Ponzi scheme unraveled, alleging HSBC had failed ...
HSBC Sees $1.1 Billion Hit on Madoff Fraud Case Litigation
HSBC Holdings Plc said it sees a provision of $1.1 billion on litigation related to claims against investors who lost money ...
Banks are still compensating investors over Madoff fraud. Another $1.1 billion might be paid out.
As of December 2024, the Madoff Victim Fund, created by the U.S. Department of Justice to return stolen funds, said it has ...
Killeen Daily Herald
HSBC profit falls in third quarter, hit by legal woes
HSBC reported a 14 percent drop in third-quarter pre-tax profit on Tuesday, with the banking giant's bottom line weighed down ...
HSBC profits slump 14% after Madoff legal hit
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 ...
HSBC Revenue Beats as $1.1 Billion Madoff Provision Dents Profit
HSBC Holdings Plc reported third-quarter revenue that beat estimates, driven by its key wealth businesses, even as a $1.1 ...