21st August 2019
A former chief executive of HSBC’s Swiss unit has pleaded guilty to helping wealthy clients hide at least €1.6 million. AFP recently reported that Peter Braunwalder was fined $560,000 and received a one-year suspended sentence in France for his role in helping HSBC’s clients stash their cash. The Swiss Leaks… Read More
13th August 2019
The B.C. government is suing to seize properties in the B.C. Interior that it alleges were linked to a $200-million-plus international stock fraud. In a lawsuit filed in B.C. Supreme Court this month, the B.C. Civil Forfeiture Office alleges a $1.6-million house on Mission Ridge Road in Kelowna and a… Read More
8th August 2019
Italy’s tax authorities have made a request to their Swiss counterparts for information about possible tax evasion by UBS (UBSG.S) clients, Swiss newspaper Tages-Anzeiger reported on Wednesday. The Italian authorities are seeking help on Italian residents who held UBS accounts in Switzerland between 2015 and 2016 and who… Read More
8th August 2019
The former chief executive officer of HSBC Holdings Plc’s Swiss private bank pleaded guilty to helping wealthy clients hide assets worth at least 1.6 billion euros ($1.8 billion) as French prosecutors flex their muscles to tackle white-collar crime. Peter Braunwalder was fined 500,000 euros and given a one-year suspended… Read More
7th August 2019
HSBC’s Swiss private banking arm has agreed to pay nearly 300 million euros ($336 million) to settle a tax fraud case in Belgium, Belgian prosecutors said on Tuesday, the latest blow for the Alpine state’s banking sector from the EU. The settlement comes after a French court in February ordered… Read More
7th August 2019
Swiss federal prosecutors have filed fraud charges against three former senior German soccer officials and one Swiss over a suspect payment linked to the 2006 World Cup hosted by Germany, the Swiss Attorney General’s office said on Tuesday. The indictment alleges former German Football Association (DFB) presidents Theo Zwanziger and… Read More
31st July 2019
Swiss bank UBS (UBSG.S) has reached a provisional deal with Italian prosecutors to pay 3 million euros ($3.3 million) to settle a money-laundering investigation, two sources said, in a move to end one of its biggest legal headaches in Europe. The bank has been grappling with two separate… Read More
29th July 2019
Switzerland’s highest court has ruled that historical data about 40,000 UBS (UBSG.S) clients must be handed to French tax authorities in a landmark case that could set a precedent for foreign governments seeking information from Swiss banks. Three of the five judges presiding at the Swiss Supreme Court… Read More
26th July 2019
At 9:15 Friday morning high on a hill overlooking Lake Geneva, five Swiss Supreme Court judges will debate whether UBS Group AG must hand over data on its French clients to Paris tax authorities as part of a crackdown on suspected tax evasion. The case, dating back… Read More
23rd July 2019
Banque Bonhôte & Cie SA, Ltd. (Bonhôte) of Switzerland will pay an additional $1.2 million to American authorities after acknowledging that it under-reported its US-linked accounts in a 2015 non-prosecution deal reached under the Swiss Bank Program. The latest monetary penalty adds to the $624,000 previously paid by the Swiss… Read More