£1.3bn fraud claim filed against HSBC UK Bank for 'sham' film investment scheme

'Catastrophic for unwitting investors'

Lauren Mason
clock • 1 min read

A £1.3bn fraud claim has been filed by 371 investors against HSBC UK Bank for losses caused as a result of their Eclipse Partnerships film investment scheme, which they said they were induced to invest in on "false promises".

The Eclipse scheme was created, developed and marketed by HSBC to finance a series of blockbuster Disney films including Pirates of the Caribbean 2 and 3, National Treasure 2, Enchanted, Underdogs and Confessions of a Shopaholic. However, the claimants - who have filed their complaint with law firm Edwin Coe LLP - say none of these film rights were ever actively traded, leading to significant losses and potential liabilities. HSBC allegedly received more than £25m in fees for its role in Eclipse, which was open to investors between 2006 and 2008. 750 individuals invested a combined £2...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Compliance relics: The case against PDFs and screenshots

Compliance relics: The case against PDFs and screenshots

'Partial records or flattened archives are no longer sufficient'

David Clee
clock 09 July 2025 • 5 min read
FCA data request prompts SimplyBiz's sector-wide compliance session

FCA data request prompts SimplyBiz's sector-wide compliance session

Nearly 600 advisers sign up for July webinar on navigating new s165 data requirements

Sahar Nazir
clock 09 July 2025 • 2 min read
FCA data information request: Four focus areas for advisers

FCA data information request: Four focus areas for advisers

‘Data is not just a compliance tool it’s a strategic asset’

Chris Davies
clock 07 July 2025 • 5 min read