HSBC To Pay 300 Mn Euros To Avoid French Tax Fraud Trial: Prosecutors

Fakhir Rizvi Published November 14, 2017 | 08:05 PM

HSBC to pay 300 mn euros to avoid French tax fraud trial: Prosecutors

HSBC Private Bank, a Swiss unit of banking giant HSBC, has agreed to pay 300 million euros ($352 million) to avoid going to trial in France for enabling tax fraud, prosecutors said Tuesday

Paris, (APP - UrduPoint / Pakistan Point News - 14th Nov, 2017 ) :HSBC Private Bank, a Swiss unit of banking giant HSBC, has agreed to pay 300 million Euros ($352 million) to avoid going to trial in France for enabling tax fraud, prosecutors said Tuesday.

HSBC was accused last year of helping French clients to hide at least 1.67 billion euros from the tax authorities, according to a source close to the probe.

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