HSBC deposit is half of alleged French tax fraud

April 9, 2015 1:52 PM

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PARIS, April 9 (Reuters) - The 1 billion euro ($1.07 billion) deposit French magistrates have imposed on HSBC Holdings in a tax offence case represents nearly half of the value of the bank's alleged tax fraud, a source close to the matter said on Thursday.

The magistrates estimate that the bank's fraud is worth 2.2 billion euros, the source said. The bank contests that figure, the source added.

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