HSBC ordered to pay $1B bail in tax probe

April 9, 2015 2:23 PM

52 0

French authorities have ordered global bank HSBC Holdings plc (HSBC) to pay $1.07 billion in bail for a criminal tax-evasion investigation involving its Swiss private bank.

London-based HSBC disclosed the development Thursday, confirming that French magistrates have opened a formal investigation of "alleged tax related offenses" during 2006 and 2007.

Also read: Colin Cowherd Dak Won't Get Huge Contract In Off-Season ... But DON'T Hold Out!

Read more

To category page

Loading...