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Ben Jones
Ben Jones, UK Lawyer
Category: UK Law
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Trading in gold futures during the huge ramp up in gold

Customer Question

Trading in gold futures during the huge ramp up in gold price late 2010, we were defrauded of a large sum of money which was laundered through a HSBC account in Hong Kong. Police advise that the account holder used a false passport to open accounts with HSBC. No other id was presented. A simple Google of the tendered address showed it did not exist (Indian national). There were many other people who lost money in the same way from this same account and one other HSBC account. The entire fraud relied on a safe house bank account that was not going to be frozen through detection of criminal activity. HSBC did not operate normal AML processes. I personally stopped the criminals and my efforts shut them down via Hong Kong police. HSBC made it very difficult to recover my remaining funds costing me another $35,000 in legal fees.
I am a UK citizen located in Australia. I am only just now mentally fit enough to take this action following the trauma of the fraud. Family is involv
Submitted: 1 year ago.
Category: UK Law
Expert:  lrizos replied 1 year ago.

Good Afternoon

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.

What would you like to know?

Customer: replied 1 year ago.
I was seeking opinion of a UK solicitor not an Australian NSW solicitor. It is a matter regarding action in the UK.
Expert:  lrizos replied 1 year ago.

I have requested it be transfered

Expert:  Stuart J replied 1 year ago.

Thank you. What would you like to know about this? Did this happen when you were in UK or is the HSBC you dealt with in UK?


Customer: replied 1 year ago.
Hi Stuart
I was between UK and Australia but living in Australia at the time and invested and paid money into HSBC US$ accounts in Hong Kong.
Regards***** *****
Expert:  Stuart J replied 1 year ago.

Thank you.

As the contracts were in Hong Kong, it really is a Hong Kong matter. Is there a reason you particularly wanted an answer based upon UK law? Were they facilitated by a UK bank?

Customer: replied 1 year ago.
Well Stuart ... we are not contemplating dealing with HSBC in Hong Kong or entering into an action in the HK courts. We would sue the UK head office who control the Hong Kong operations. HSBC is headquartered in the UK. HSBC has been convicted of allowing money laundering to knowingly occur in their worldwide operations.
Expert:  Stuart J replied 1 year ago.

Thank you. Would you be carrying out this litigation on your own or would it be a class action?

What exactly is it that you want to know about this?