Heiress sues HSBC and Barclays for $15 billion over plundered trust fund

Tanya Dick-Stock, an heiress, has filed a lawsuit against HSBC and Barclays, seeking $15 billion in damages. The lawsuit alleges that her late father, with the assistance of these major banks, systematically plundered her $650 million trust fund, which was established for her benefit. The case came to light after Tanya discovered a treasure trove of 350,000 documents in a Jersey manor house, which revealed the alleged misconduct.

The documents showed that the trust assets were moved through a complex web of offshore entities, including La Hougue, a Jersey-based trust company that was later acquired by Zedra. Tanya and her husband allege that Barclays appointed La Hougue as trustee, despite its close personnel connections to the bank, and that HSBC facilitated improper wire transfers and maintained coded or secret accounts, ignoring know-your-customer and anti-money-laundering requirements. The banks also allegedly provided loans against improperly pledged trust assets.

HSBC has dismissed the claims as 'unfounded,' while Barclays and Zedra have declined to comment. A source close to HSBC noted that the claims relate to a Jersey loan made in 2012 and repaid in 2019. Tanya, who says she never received the trust money, has been pursuing the case for years, describing the banks' actions as akin to 'smashing a car, patching it up, and saying the tyres are still the same.' The lawsuit has not yet been heard in any court, and the allegations remain unproven.