French court cuts HSBC bond in fraud probe to €100m
HSBC Switzerland
Paris - AFP
The appeals court in Paris has drastically reduced the bond demanded of British banking giant HSBC in connection with a major tax fraud investigation, the bank and judicial sources said Monday.
The court reduced the bond to 100 million euros ($112 million), from the original sum of one billion euros, the HSBC Group said in a statement sent to AFP. The decision was also confirmed by judicial sources.
Back in April the bank had been placed under formal criminal investigation by French magistrates over the conduct of HSBC's Swiss Private Bank in 2006 and 2007 for alleged tax-related offences.
The so-called "SwissLeaks" affair involved claims that the HSBC unit in Switzerland allegedly helped over 120,000 clients to hide 180.6 billion euros ($193.6 billion) from tax authorities.
The allegations were made in February by international newspapers led by France's Le Monde after they studied stolen documents supplied by former HSBC IT employee Herve Falciani.
GMT 05:55 2018 Tuesday ,23 January
US tax reforms send UBS profits plungingGMT 13:12 2018 Sunday ,21 January
CBB signs memorandum of understanding with DFSAGMT 04:49 2018 Saturday ,20 January
HSBC in $100 million forex fraud settlementGMT 14:14 2018 Wednesday ,17 January
Strong euro 'source of uncertainty' for ECBGMT 17:00 2018 Tuesday ,16 January
IMF 'concerned' by Kiev's plan for anti-corruption courtGMT 19:29 2018 Monday ,15 January
Central Bank issues commemorative coin for Dh189GMT 06:05 2018 Sunday ,14 January
Bitcoin shouldn't become the new Swiss bank accountGMT 21:23 2018 Wednesday ,10 January
BCCI elections committee holds second meeting
With Job Cuts, China Deal
France's Carrefour revamps operations
Paris - Emiratesvoice
France's Carrefour group said Tuesday it is overhauling its business in a transformation plan involving thousands of job cuts, a product revamp and new partnerships in China. Carrefour, which was the world'sTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Emiratesvoice
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onIn Olympic Spotlight
'Friendly and kind' N. Korean skaters
Taipei - Emiratesvoice
North Korea's figure skaters Ryom Tai-Ok and Kim Ju-Sik are "friendly and kind and a little bit shy", South Korea's Kim Kyueun said Tuesday ahead of their hugely anticipated Olympic appearance. The skater is competing with her partner Alex Kam in theFor $11.6 Bn
Sanofi buys US haemophilia treatment
Paris - Emiratesvoice
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances its presence in specialtyParis show pays homage
to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
GMT 10:18 2016 Wednesday ,23 March
cartoon seven
GMT 11:03 2018 Tuesday ,23 January
No end to eyesores at Taj Mahal
GMT 19:57 2018 Tuesday ,23 January
Farm-fresh from Kerala to the UAE, in just one day
GMT 10:17 2017 Saturday ,28 October
Brazil president says 'truth won' after escaping corruption trial
GMT 10:12 2017 Thursday ,26 October
Luxury market set for record year
GMT 11:41 2017 Tuesday ,24 October
Sweden says Chinese-born dissident publisher Gui Minhai freedGMT 12:15 2011 Tuesday ,13 September
Ammoura Oven: Most Ancient Folkloric Oven in Tartous
GMT 08:29 2015 Friday ,27 March
Papadakis, Cizeron clinch world ice dance gold in ShanghaiGMT 17:56 2011 Friday ,29 July
Rome archaeologists find Apollo mosaicGMT 11:09 2012 Monday ,25 June
Ferrer back to No 5GMT 05:26 2012 Wednesday ,12 December
Smartphones to see through walls?GMT 08:59 2012 Sunday ,13 May
How to make garlic and herb skillet croutonsGMT 16:59 2012 Monday ,12 November
Fashionistas step out in Frankfurt
GMT 13:30 2015 Friday ,08 May
Sharjah to host conference on family tourism
GMT 09:56 2015 Monday ,02 March
Blast hits fireworks warehouse in SanaaGMT 13:58 2012 Friday ,07 September
White FacesGMT 11:10 2012 Thursday ,08 March
iPhone\'s Siri to speak Japanese
GMT 21:56 2015 Thursday ,12 February
Nazi prisoners' imaginary feasts explored in Berlin documentary
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor