13 Nov 09: HSBC's Swiss miss

One might think that after Madoff, Stanford and other Ponzi-like schemes, big banks would be more careful about the money managers they do business with — especially people running highly speculative investment opportunities.

But it appears not everyone at the global banking giant HSBC got the message.Consider the case of Dividium Capital, a now-defunct investment fund that was registered in the Isle of Man, an offshore banking haven located in the Irish Sea. ...

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