HSBC Sets Aside $1.1 Billion for Madoff Fraud Litigation

HSBC Holdings Plc will set aside $1.1 billion to cover litigation by investors who lost money in Bernard Madoff’s fraud, the latest global bank to face a significant hit from...

By Bloomberg · Bloomberg

HSBC Holdings Plc will set aside $1.1 billion to cover litigation by investors who lost money in Bernard Madoff’s fraud, the latest global bank to face a significant hit from litigation dating back years. Bloomberg’s Tom Metcalf reports.