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Mortgage-backed Securities

Mortgage-Backed Securities Abuses Cause HSBC Pay $765 Million

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HSBC Agrees To Pay $765 Million In Connection With Its Sale Of Residential Mortgage-Backed Securities The United States Attorney’s Office in Denver announced today that HSBC will pay $765 million to settle claims related to its packaging, securitization, issuance, marketing and sale of residential mortgage-backed securities (RMBS) between 2005 and 2007. Federally insured financial institutions […]

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Mortgage-Backed Securities Abuses Cause HSBC Pay $765 Million Read Post »

Brooklyn Ponzi Scheme

Victims Of Brooklyn Ponzi Scheme Sue Banks For Turning Blind Eye

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Victims Of Philip Barry’s Brooklyn Ponzi Scheme Sue JPMorgan Chase, TD Bank, HSBC and M&T Bank For $36 Million Phillip Barry who has been dubbed Brooklyn’s Bernie Madoff operated a Brooklyn Ponzi scheme that began in 1978 and conned investors out of nearly $40 million to invest in his Leverage group of companies. Philip Barry was convicted

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Victims Of Brooklyn Ponzi Scheme Sue Banks For Turning Blind Eye Read Post »

HSBC

RMBS Bond Holders Get Green Light To Sue HSBC For $34B

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HSBC Stands Accused Of Breach of Contract And Concealing Defective Mortgage Loans In 283 trusts. On Monday, U.S. District Judge Shira Scheindlin ordered HSBC Holdings to face three lawsuits accusing it of breaching its duties as a trustee overseeing residential mortgage-backed securities that suffered more than $34 billion of losses in the global financial crisis.

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RMBS Bond Holders Get Green Light To Sue HSBC For $34B Read Post »

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