Couple Files Amended Complaint Seeking $15 Billion From Barclays and HSBC in Trust Dispute

Tanya Dick-Stock and Darrin Stock filed an amended complaint in Colorado federal court that raises their damages claim against Barclays and HSBC to $15 billion, including interest. The couple alleges the banks helped the late real estate developer John Dick Sr. divert funds from trusts, one valued at $350 million, into money-laundering transactions.

The filing states that Barclays, HSBC and subsidiaries, along with trust company Zedra, used the offshore business La Hougue, later renamed Pantrust, to trick creditors, avoid taxes and hide cash. The Stocks claim they discovered evidence of the alleged fraud in a locked squash court on their former 400-year-old estate on the Isle of Jersey.

The amended complaint says La Hougue moved money, established shell companies and engaged in financial schemes with Kevin and Ian Maxwell throughout the mid-1990s.

A spokesperson for the Maxwell brothers previously told the Times of London they had no knowledge of any tax avoidance or other schemes purportedly organized by La Hougue. La Hougue appeared on a list of 72 people and entities about which the Senate Finance Committee sought information in its probe of Jeffrey Epstein.

John Christensen, former senior economic advisor to Jersey and co-founder of the Tax Justice Network, said the filing paints a wider picture of enablers acting together.

Christensen added that HSBC failed its regulatory duties when it took over from Barclays, raising questions about compliance policies. HSBC stated it operates a robust financial crime compliance program with industry-leading controls and will fight the allegations in court. 92 billion fine.