KPMG warned HSBC about Madoff — twice
HSBC Holdings Plc was warned twice by auditors, in 2006 and 2008, that entrusting as much as $8 billion in client funds to Bernard Madoff opened it up to “fraud and operational risks.”
HSBC Holdings Plc, Europe's biggest lender, was warned twice by auditors that entrusting as much as $8 billion in client funds to Bernard Madoff opened it up to “fraud and operational risks.”
KPMG LLP told the London-based bank about the risks in 2006 and 2008 reports. The firm was hire
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