Swiss prosecutors close HSBC case, bank fined more than $40m
HSBC Private Bank
Geneva - Arab Today
Swiss prosecutors on Thursday closed an investigation into allegations British banking giant HSBC's Geneva branch helped clients evade millions of dollars in taxes, after the bank agreed to a massive fine.
"We ended the procedure following a deal with the bank, which will pay 40 million Swiss francs ($43 million, 38 million euros)," Olivier Jornot, attorney general in the Swiss canton of Geneva, told reporters.
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