3Novices:HSBC private bank in Switzerland pays US$353 million to settle tax evasion case

HSBC Holdings has agreed to pay 300 million euros (US$353 million) to settle a long-running investigation into tax evasion by French citizens via its private bank in Switzerland, the lender said on Tuesday.
The agreement is a first under a French system introduced in 2016 to allow companies to settle without any finding of guilt, HSBC said in a statement, adding the fine had been fully provisioned.
“The investigation regarding HSBC Holdings has been dismissed,” HSBC said in its…
November 14, 2017 at 10:53PM
#3Novices #News #OnlineMedia #China 3Novices China


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