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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/hsbc-helped-pass-funds-to-madoff.jpg"><img class="alignnone size-full" title="HSBC faces a lawsuit over allegedly funneling more than 8.9 billion US dollars (5.7 billion pounds) to Bernard Madoff" src="http://londonglossy.com/wp-content/uploads/2010/12/min-hsbc-helped-pass-funds-to-madoff.jpg" alt="HSBC faces a lawsuit over allegedly funneling more than 8.9 billion US dollars (5.7 billion pounds) to Bernard Madoff"/></a></p>
<p>The court-appointed New York-based trustee trying to recover losses for victims of Bernard Madoff has accused HSBC of fuelling the disgraced financier&#8217;s massive fraud.</p>
<p>Trustee Irving Picard announced a lawsuit against the British-based bank that seeks nine billion US dollars.</p>
<p>The lawsuit was filed in the US Bankruptcy Court for the Southern District of New York.</p>
<p>Mr Picard alleges HSBC helped funnel more than 8.9 billion US dollars (£5.7 billion) to Madoff through a dozen so-called feeder funds based in Europe, the Caribbean and Central America.</p>
<p>He also says it ignored warnings from its own accountants that his phenomenal investment record was suspect.</p>
<p>An HSBC spokeswoman declined to comment on Sunday.</p>
<p>Madoff is serving a 150-year term in federal prison.</p>
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