HSBC Liability for Madoff Losses an Issue After Four Years
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Four years after Bernard Madoff pleaded guilty to running the largest Ponzi scheme in history, investors are still trying to get their money back.
Thema International Fund Plc is seeking about $1.5 billion from HSBC Holdings Plc at a 14-week trial that started at the High Court in Dublin today. The case is one of dozens to focus on banks’ role as “custodians” to investment funds that deposited money with Madoff.