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

Change In 'Accredited Investor' Definition Could Hurt Crowdfunding Space

Jul 25 2014 | 8:14am ET

The Securities and Exchange Commission is considering changes to its 30-year-old...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note