DealBook » Judge Approves HSBC's Settlement of Money-Laundering Charges | The settlement with federal and state regulators was worth $1.92 billion.
No member of Mr Netanyahu's coalition is going to keep the settlements short of money.
A settlement of the money-laundering investigation is near and could come within weeks, according to these people".
The bank recently became embroiled in a set of scandals that included the sale of an insurance product to clients who did not qualify for it and a record settlement for charges of money laundering.
Such feelings of indignation sparked applause and jeers inside the courtroom, and angry comments by the judge, who dismissed as "phony arguments" claims that he has unfairly sent tens of millions of settlement money to impoverished Jews in countries that were once behind the Iron Curtain, while ignoring the poverty of survivors elsewhere.
Just last month, Ms. Nappier and Mr. Blumenthal announced a $457 million settlement of that lawsuit, money that will be shared by investors.
"What we've seen for some time going back 20-plus years, is that the SEC has figured out that you can get a lot of settlements and a lot of money as long as the settlements are paid by the company and not the officers who authorized or carried out the misconduct," said James Cox, a corporate and securities law professor at Duke University.
The number of city employees who could be affected by the settlement and the amount of money they could receive was not immediately clear.
The settlement raised the amount of money the trustee, Irving H. Picard, said he had recovered for Mr. Madoff's victims to $8.6 billion, or roughly half of the $17.3 billion lost by customers who had filed claims.
Class-action lawyers call the diversion of settlement money from victims to other uses "cy pres".
