Wednesday, 6 May 2015
Last updated 14 hours ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…