HSBC last week admitted failings in compliance and controls in the Swiss unit and faces investigation by US authorities and an inquiry by British lawmakers after reports that it helped customers conceal millions of dollars of assets in a period up to 2007.
French magistrates put HSBC Private Bank under formal investigation in November. They ended their inquiries on Feb. 12, the source said, adding that prosecutors had three months to request that the bank be sent to trial to answer charges.
The alleged fraud involves some 3,000 French taxpayers. Cases against specific clients of the Swiss bank are already in progress with 62 cases in the works, according to the daily Le Monde.
On Monday, the tax fraud trial of the heiress of the Nina Ricci perfume fortune opened in Paris, one of the first people to be tried in France since a list of thousands of clients alleged to have evaded taxes through HSBC's Swiss private bank became public.
Arlette Ricci is suspected of hiding more than $22 million from French tax authorities via a bank account kept by HSBC's Swiss arm. She is on trial for tax fraud, money laundering and the crime of fraudulent bankruptcy to avoid tax.
Ricci, 73, who denies the charges, could face up to five years in prison and a 75,000 euro fine. Also on trial are her daughter and accountant.
A separate French investigation into the bank's parent company is continuing. [buenosairesherald.com]
16/2/15
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Swiss prosecutor orders probe, search of HSBC offices ...
ReplyDeleteInvestigators launched a search on Feb. 18 of British banking giant HSBC's Geneva offices as part of a money laundering probe following allegations the bank helped clients evade millions of dollars in taxes, Swiss prosecutors said.
"Following the recent revelations related to the HSBC Private Bank (Switzerland), the public prosecutor announces the opening of a criminal procedure against the bank... for aggravated money laundering," Geneva prosecutors said in a statement.
The search was taking place at HSBC's Swiss headquarters headed by the Geneva cantonal prosecutor general Olivier Jornot, assisted by another top prosecutor, Yves Bertossa.
The prosecutors said they had opened the probe against the bank itself, but that "depending on the evolution, the investigation might be broadened to include physical persons suspected of committing or participating in acts of money laundering.".............................http://www.hurriyetdailynews.com/swiss-prosecutor-orders-probe-search-of-hsbc-offices-.aspx?pageID=238&nID=78515&NewsCatID=346
18/2/15
Swiss police raid HSBC's Geneva office...
ReplyDeleteProsecutors said they were investigating HSBC Private Bank (Suisse) and "persons unknown for suspected aggravated money laundering".
The investigation could be extended to people suspected of committing or participating in money laundering.
HSBC said it was "co-operating with the Swiss authorities."
The police raid comes more than a week after allegations first emerged that HSBC's Swiss private bank may have helped wealthy clients evade tax.
HSBC published a full-page advert in several weekend papers containing an apology over the claims.
The chief executive of HSBC's Swiss private bank, Franco Morra, said last week it had shut down accounts from clients who "did not meet our high standards".
Mr Morra added the revelations about "historical business practices" were a reminder that the old business model of Swiss private banking was no longer acceptable...................http://www.bbc.com/news/business-31516416
18/2/15
HSBC en Suisse : perquisitions en cours...
ReplyDeleteLa banque britannique HSBC affronte une hydre judiciaire. A peine les juges français ont-ils bouclé leurs investigations (pour fraude fiscale) sur HSBC Private Bank , qu'à leur tour les juges helvètes passent à l'action contre la filiale de HSBC basée en Suisse.
Des perquisitions étaient en cours mercredi matin au siège de la banque HSBC Private Bank, quai du Mont-Blanc à Genève et une enquête pénale a été ouverte contre l'établissement pour blanchiment d'argent, a annoncé le ministère public du canton de Genève dans un communiqué publié mercredi.
Le ministère public précise qu'il a, après les récentes révélations publiques relatives à la banque HSBC Private Bank (Suisse), "ouvert une procédure pénale contre la banque" pour blanchiment d'argent aggravé. L'enquête ne concerne que la banque. Cependant, en «fonction de son évolution», l'enquête pourrait être étendue à des personnes physiques «qui seraient elles-mêmes soupçonnées d'avoir commis des actes de blanchiment» ou d'y avoir participé, précise le communiqué........................http://www.lesechos.fr/finance-marches/banque-assurances/0204167795217-la-justice-suisse-enquete-sur-hsbc-private-bank-1094465.php?6L5vcvwW48cAtMbk.99#xtor=RSS37
18/2/15