Schwarz in legal battle with bank
Hyundai's Armin Schwarz has filed a £1m lawsuit against the HSBC bank after he claimed money was taken out of his Monaco bank account and not returned, despite assurances it would be
According to a report in The Guardian, Schwarz found that £60,000 had been cashed from his account using a cheque book left in his safety deposit box.
"They couldn't even tell me where the money went," said Schwarz. "Where in the world is your chequebook safe if not in the bank?
"The bank keeps saying it has reimbursed everyone, but it has not. I have been a faithful client of the bank for 10 years and I deserve better than this."
Schwarz is one a 14 clients launching a case against the bank's private banking unit in Monaco following the disappearance of $10million from the accounts of its customers.
"This has been a very disappointing episode for HSBC," a spokesman for the bank told The Guardian. "We have settled a number of cases and await the outcome of the trial and legal advice on those remaining."
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