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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.

An HSBC logo sits on the building that houses HSBC Holdings Plc's private banking unit in Geneva.

Photographer: Gianluca Colla
Updated on

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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.