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The Latest Breaking News from Bernard Madoff

HSBC Sets Aside $1.1 Billion Following Luxembourg Court Ruling in Madoff Case

HSBC sets aside $1.1B after Luxembourg court partially upholds Madoff-related claims, warning the legal battle could take years to resolve, impacting profits and highlighting ongoing risks.

International Business Times UK

FTSE 100 hits new record ahead of Federal Reserve meeting and tech results

The FTSE 100 index closed up 42.92 points at 9,696.74.

Evening Standard

HSBC profits slump 14% after Madoff legal hit

The lender reported pre-tax profits of 7.3 billion US dollars (£5.5 billion) for the third quarter, down from 8.5 billion US dollars (£6.4 billion).

Evening Standard

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HSBC warns it could take years to settle Madoff case as bank takes $1.1bn hit

Lawsuit over Ponzi scheme drags on London-headquartered lender, whose profits plunge by 14%

The Guardian - UK

Stock markets rise to record highs and Apple touches $4tn market value for first time – as it happened

UK chancellor confident of Gulf trade deal, as she faces £20bn-plus hit to public finances from UK productivity downgrade

The Guardian - UK

HSBC announces £898m drop in quarterly profits

The announcement comes a day after the banking giant revealed it will set aside £826m following a court ruling.

Evening Standard

FTSE 100 at new high as banks offset weak gold and US-China talks hailed

The FTSE 100 index closed up 8.20 points, or 0.1%, at 9,653.82.

Evening Standard

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HSBC takes £826m hit after Madoff fraud ruling

The London-headquartered lender will put by the provision in third quarter results due to be published on Tuesday.

Evening Standard

Before celebrating big gifts, charities must watch out for fake donors

A New York philanthropist and personal assistant to billionaires, Matthew Christopher Pietras, allegedly stole millions from his employers and donated large sums to prominent charities to maintain a facade of status, wealth and generosity.

The Conversation

7 Financial Gurus Who Lost It All

There’s something uniquely captivating about a financial genius who goes broke. These are the very people who once seemed to hold the keys to unlimited wealth, doling out advice and building empires based on their financial prowess. They were Wall Street wizards, bestselling authors, investment icons—until it all came crashing…

Everybody Loves Your Money

Madoff Victim Fund Makes Final Payout 15 Years After Ponzi Scheme Collapsed

Victims have recovered nearly 94% of their initial investments with the final payout from the victim fund.

International Business Times

Federal prosecutor in NY issues call for whistleblowers in bid to unearth corruption, other crimes

Federal prosecutor Damian Williams in New York says his office is busy with lots of crimes but he wants to find more

The Independent UK

Chinese businessman seeks bail in $1 billion fraud case

Lawyers for a wealthy self-exiled Chinese businessman are seeking bail for him two weeks after his arrest, saying he cannot properly prepare for trial from behind bars

The Independent UK

‘He destroyed the lives of many’: How a true crime filmmaker came to view Bernie Madoff as a ‘financial serial killer’

The director tells Clémence Michallon about his new Netflix documentary ‘Madoff: The Monster of Wall Street’, the collapse of FTX, and how history seemingly repeats itself

The Independent UK

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