Irish investor
DUBLIN (Bloomberg) — A French investor who lost about 54 million euros ($80 million) in a Dublin fund linked to Bernard Madoff's Ponzi scheme asked an Irish court to order HSBC Holdings Plc for details on what happened to the money.
Judge Peter Kelly in Dublin today agreed to review Aforge Finance SAS's request for information on how HSBC monitored the money once it was put into Thema International Fund Plc. HSBC served as custodian bank for Dublin-based Thema International, handling money for the mutual fund.
Aforge, which is seeking the information to help recover the money, is one of about 50 investors who have filed claims in Dublin over Thema losses. Thema has also sued HSBC, Europe¿s largest bank.
HSBC "continues to believe we have good defences to the claims and will vigorously defend ourselves", said Brendan McNamara, a spokesman for the London-based bank, about claims in Ireland, Luxembourg and the US.
Kelly will review Aforge's request at a November 18 hearing.
Madoff, 71, pleaded guilty in March and was sentenced on June 29 to 150 years in prison for using money from new clients to pay earlier investors.