Standard Chartered Ducks Dubai Madoff Victims in US

Law360, New York (September 15, 2010, 1:25 PM EDT) -- Dubai residents suing Standard Chartered PLC over millions of dollars lost in the Bernard L. Madoff Ponzi scheme have been bounced from federal court because agreements with the bank establish Singapore as the appropriate forum for investor disputes.

On Tuesday, Judge Victor Marrero of the U.S. District Court for the Southern District of New York found that account holder agreements with Standard Chartered bar plaintiffs from bringing two lawsuits in the court over the bank’s choice to direct investments to Fairfield Greenwich Group, the major feeder...
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