Swiss bank HSBC to pay France $352 million in tax fraud case

Swiss bank HSBC to pay France $352 million in tax fraud case

French financial prosecutors say the Swiss-based HSBC Private Bank has agreed to pay 300 million euros ($352 million) to France to close a tax fraud case, a first in the country.In a written statement, prosecutors said a Paris court on Tuesday approved the agreement under a 2016 anti-corruption law. Under this agreement, the bank acknowledges "the existence of the alleged facts."HSBC's Swiss bank was under investigation over helping clients to illegally avoid paying taxes worth 1.6 billion eu...