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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/hsbc-sued-by-madoff-claims-lawyer.jpg"><img class="alignnone size-full" title="The lawyer in charge of recovering losses for victims of disgraced financier Bernard Madoff is suing HSBC for nine billion US dollars" src="http://londonglossy.com/wp-content/uploads/2010/12/min-hsbc-sued-by-madoff-claims-lawyer.jpg" alt="The lawyer in charge of recovering losses for victims of disgraced financier Bernard Madoff is suing HSBC for nine billion US dollars"/></a></p>
<p>The lawyer in charge of recovering losses for victims of disgraced financier Bernard Madoff is suing British banking giant HSBC for nine billion US dollars (£5.7 billion).</p>
<p>Court-appointed trustee Irving Picard has accused HSBC of helping Madoff&#8217;s scheme by creating a dozen so-called feeder funds across the world.</p>
<p>Mr Picard has also accused the bank of ignoring warnings from its own accountants that Madoff&#8217;s huge investment record was suspicious.</p>
<p>Madoff is serving a 150-year term for a 65 billion US dollar (£41 billion) fraud. He admitted deceiving thousands of investors through a Ponzi scheme, which paid out using new investors&#8217; money rather than from any profits.</p>
<p>The lawsuit, which contains 24 counts of alleged financial fraud and misconduct by HSBC, was filed at the US Bankruptcy Court in New York on Sunday.</p>
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