British Madoff Victims Poised To Sue

Jan 28 2009 | 2:07am ET

A group of British investors are set to sue four firms over money lost in the Bernard Madoff scandal.

Ten investors have approached law firm Edwin Coe about suing Barclays, Bramdean Asset Management, HSBC and UBS, over advice given before the word of the alleged $50 billion Ponzi scheme broke. David Greene, head of litigation at Edwin Coe, said that he clients are mulling whether to join one of the class-action lawsuits already filed in the U.S., or to file one of their own in the U.K.

“When you are in a position where the whole of an investment strategy is a fiction you are bound to ask questions about the advice you were given,” Greene told The Telegraph.

Greene’s clients have combined losses of about £87 million (US$122.5 million). One alone apparently lost some £36 million (US$50.7 million) on investments with exposure to Madoff.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note