HSBC has made a settlement to some victims of the Ponzi scheme set up by Bernard Madoff. Bernard L. Madoff was a former stock broker investment advisor who screwed over thousands of investors for billions of dollars. This guy is one of the worse people in the history of the world. A proposed $62.5 million class action settlement has been reached in a lawsuit against European bank HSBC Holdings.
The lawsuit claims that HSBC knew or should of knew about the Bernard Madoff ponzi scheme. The lawsuit also states that HSBC breached its duties to the funds and investors. The HSBC Class Action Lawsuit Settlement of Investor Lawsuit Over Bernard Madoff is under the jurisdiction of the United States District Court for the Southern District of New York. Check back for more updates.
