HSBC ordered to pay US$1.1b in bail as part of French probe
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[LONDON] HSBC Holdings Plc must pay 1 billion euros (S$1.47 billion) in bail as part of a French criminal investigations linked to a tax-evasion probe at its private bank.
The bank was placed under formal criminal investigation five months after its Swiss private banking unit was charged.
The decision is "without legal basis and the bail is unwarranted and excessive," HSBC said in a statement on Thursday. It will appeal the decision.
BLOOMBERG
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
