HSBC Targeted in Swiss Probe Linked to Ex-Lebanon Central Banker

HSBC Holdings Plc’s Swiss private bank is the focus of a Swiss investigation into suspected money-laundering connected to the alleged embezzlement of hundreds of millions of dollars by the former head of Lebanon’s central bank.

Swiss federal prosecutors opened the probe in January into HSBC Private Bank (Suisse) SA, an unnamed individual and four other “unknown persons” in relation to the case, it said in a statement on Wednesday. It declined to comment further given the probe is ongoing.