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Former HSBC Banker Beats Charges in $1.8 Billion French Tax Case

  • Investigators drop case into Judah Elmaleh on lack of evidence
  • His boss plead guilty and HSBC paid $333 million in same probe

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A former executive at HSBC Holdings Plc’s Swiss private bank was cleared in a probe where his boss pleaded guilty to helping wealthy clients hide assets worth at least 1.6 billion euros ($1.8 billion).