Banks face lawsuits from investors who lost out in Madoff scandal
Banks face lawsuits from investors who lost out in Madoff scandal
By DAILY MAIL REPORTER
Last updated at 9:40 PM on 25th January 2009

Ten wealthy British investors are planning to take legal action against HSBC, UBS, Barclays and Nicola Horlick's Bramdean fund over advice they were given relating to the £37billion Bernard Madoff investment scandal.

The ten, which are said to include some of the country's richest people, have approached law firm Edwin Coe about suing bankers, fund managers and other investment advisers for the full value of their losses in the Madoff collapse.

One of the victims is said to have invested £36million in Madoff funds. It is thought they are nursing combined losses of around £87million.

Their identities are a mystery, but most are believed to be entrepreneurs who made their fortunes by selling off their businesses.
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