Ex-HSBC Banker Pleads Guilty in $1.8 Billion French Tax Case
- Plea shows authorities’ determination to go after individuals
- HSBC paid $336 million in 2017 to settle as part of same case
An HSBC logo sits on the building that houses HSBC Holdings Plc's private banking unit in Geneva.
Photographer: Gianluca CollaThis article is for subscribers only.
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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.