Maura Fogarty

BBC journalist who explains the HSBC legal provision related to the Bernie Madoff Ponzi scheme and provides context on ongoing litigation and regulatory implications.

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Oct 28, 2025 • 8min

HSBC braces for huge hit over Bernie Madoff Ponzi scheme

Joining the discussion are Maura Fogarty, a BBC journalist with insights on banking and finance, and Davina Gupta, a BBC reporter covering economic impacts. Maura delves into HSBC's staggering $1.1 billion legal provision regarding the Bernie Madoff Ponzi scheme, exploring regulatory implications and potential for future fraud cases. Meanwhile, Davina reports on U.S. tariffs devastating India's carpet industry, revealing personal stories of weavers facing job losses and financial struggles, risking both livelihoods and cultural heritage.

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