HSBC faces $1bn hit from Bernie Madoff Ponzi scheme tussle
Update: 2025-10-27
Description
HSBC faces a $1.1 billion Madoff scandal payout, sending shares tumbling! Luxembourg's highest court ruled against the banking giant in a long-running lawsuit over its role as custodian for Madoff-invested funds. While appealing the amount, HSBC braces for impact amidst a $13 billion Hang Seng Bank takeover and a pause on share buybacks. Is this a blip or a sign of deeper financial woes?
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