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Business

Swiss prosecutors close HSBC case, bank fined more than $40 mn

Published: 04 Jun 2015 - 04:16 pm | Last Updated: 13 Jan 2022 - 03:19 pm


Geneva--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.

AFP