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

HSBC has announced that it may take years to resolve a lawsuit related to the Bernard Madoff Ponzi scheme, resulting in a significant $1.1 billion hit to the bank's finances. This ongoing legal battle has contributed to a 14% drop in the bank's profits, highlighting the long-lasting impact of financial scandals on major institutions. The situation underscores the challenges banks face in managing legal risks and the potential for prolonged financial strain.
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