The agreement passed by HSBC is the first convention judicial of public interest (CJIP), signed in France.
© Vincent Isore / MAXPPP / IP3 PRESS
HSBC Private Bank, the swiss subsidiary of the giant british bank, has agreed to pay 300 million euros to avoid a trial in France for “laundering tax fraud”, announced on Tuesday that the parquet national financier (PNF). This agreement constitutes the first agreement is legal, public interest (CJIP), signed in France, a new procedure which allows a company sued for corruption or money laundering to tax fraud, negotiating a fine, without going to trial or in the procedure of “pleading guilty”.
For its part, the parent company HSBC Holdings has received a non-place, according to the PNF and the group. With the signing of this agreement, “the bank recognizes the existence of the facts alleged against him and accepted their legal classification”, he says in a press release. These 300 million euros, already fully provisioned by the bank, will abound, the budget of the French State.
In full knowledge of the facts
HSBC Private Bank had been indicted on November 18, 2014, for “selling, banking and financial illegal” and “money laundering aggravated tax fraud”. He had been accused of, via the customer service personnel, and prospected in 2006 and 2007, taxpayers in France and to have helped these clients hide assets from the tax office, for at least 1.6 billion euros, “knowingly,” recalled the parquet national financier.
Two of its former leaders are, for their part, are criminally prosecuted.
Prior to HSBC, the swiss bank UBS, continued in France for a similar offence, had begun informal negotiations with the prosecution of the national financial to also study the possibility of setting up a CJIP. But these negotiations have ended because the group and the public ministry “have not succeeded in agreeing on the amount of the sums to be paid,” according to a source close to the folder. The parent company UBS AG has finally been returned to the criminal court in march for money-laundering, aggravated fraud tax” and its French subsidiary for “aiding and abetting”. It may not therefore claim, according to the law, to the benefit of a CJIP.
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