Belfast Telegraph

Madoff trustee in $9bn lawsuit against hsbc

The court-appointed New York-based trustee trying to recover losses for victims of Bernard Madoff has accused HSBC of fuelling the disgraced financier's massive fraud. Trustee Irving Picard announced a lawsuit against the British-based bank that seeks $9bn. The lawsuit was filed in the US Bankruptcy Court for the Southern District of New York. A HSBC spokeswoman declined to comment yesterday. Madoff is serving a 15-year term in prison.