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HSBC Investigation

HSBC InvestigationHSBC Investigation

The Swiss private banking arm of HSBC Holdings has been placed under formal investigation by French magistrates, who are looking into whether the bank helped certain clients avoid paying taxes in 2006 and 2007, Reuters reported. In connection with the investigation, the bank has agreed to deposit a bail bond of $62 million, Reuters reported.

 

Financialtribune.com