Source: Reuters 4th May 2017
Spain’s High Court is to question seven former executives from HSBC’s Swiss private bank as part of an investigation into alleged money laundering and tax fraud triggered by tax information leaks from former employee Herve Falciani.
The court said in a ruling, published on Thursday, it had decided to widen the investigation to study the flow of funds from HSBC’s Swiss private bank to Spain’s Banco Santander and France’s BNP Paribas.
“These entities have collaborated to repatriate funds deposited in HSBC’s Swiss private bank with the aim of concealing them from Spanish tax authorities,” the court said in a separate statement also published on Thursday.
HSBC, which reported first-quarter results on Thursday, declined to comment.