The Bank of Bermuda heads the list of Bermuda-based clients who had money invested with disgraced financier Bernard Madoff, according to a court filing in the US Bankruptcy Court, Manhattan.

Clues to the extent of the bank's exposure were revealed in Madoff trustee's list of the firm's customers, within the past year, released this week, with no fewer than eight direct or indirect listings.

The Bank of Bermuda Ltd. was listed three times, as well as Bank of Bermuda Lux SA - Universal based in Luxembourg.

The account of HSBC Securities Services c/o Bank of Bermuda Special Customer Account, also located in Luxembourg, the account of Bank of Bermuda Ltd. c/o HSBC Ireland, in Dublin, were also included.

HSBC, the multinational bank which owns Bank of Bermuda, estimated in December that it had around $1 billion at risk globally, but the local bank did not say how much of that exposure was on its books.

Kingate Global Fund c/o Bank of Bermuda Ltd., under an address in the British Virgin Islands, and five entries under Fairfield Greenwich (Bermuda) Ltd., two listings each of the account of BBHF Emerald Ltd. c/o Fairfield Greenwich (Bermuda) Ltd. and the account of Citco Global Custody NV c/o Fairfield Greenwich (Bermuda) Ltd. respectively, are also listed. Hedge fund managers Kingate and Fairfield Greenwich are among those known to have suffered heavy losses.

Lagoon Investment B c/o Mrs. R Scott, Bank of Bermuda Luxembourg SA, in Luxembourg and Lagoon Investment C under the same address, featured, as did BISYS Hedge Fund Services Ltd. twice, with an address at Hemisphere House, Hamilton, Citco Fund Services (Bermuda) Ltd., in Reid Street, Equity Trading Portfolio (Bermuda) Ltd. of Washington Mall, two listings of FC Investment Holdings Ltd. at Par-la-Ville Road and the account of Perinvest Market Neutral c/o Prime Management located in Church Street.

Other locally-based investors ranged from HCH Management Co. Ltd. in Reid Street, Legacy Capital Ltd. c/o HCH Management Co. Ltd. at Front Street, Legacy Capital Ltd. c/o Leed Management Ltd., also of Front Street, Multi-Manager Investments (Bermuda ) Ltd. c/o Codan Management Ltd., Provence Management II Stitchting c/o Rothschild Trust in Victoria Street, Union Bancaire Privee, managed by Asset Management (Bermuda) Ltd. and Whitechapel Management Ltd. at Par-la-Ville Road.

The Bank of Bermuda had not commented on the amount of its exposure at time of going to press.