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HSBC HOLDINGS to Pay ~USD300M to Settle French Criminal Case: Wire
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HSBC HOLDINGS (00005.HK) is preparing to pay around USD300 million to settle a French criminal case involving its alleged participation in a tax scheme known as "Cum-Cum", Bloomberg reported, citing sources. It is expected that the proposed settlement with prosecutors from the Parquet National Financier will be reviewed at a hearing in Paris in the coming weeks. The settlement is said to include fines and taxes from the Parquet National Financier. Previously, Credit Agricole agreed to pay around EUR134 million in fines and back taxes related to "Cum-Cum" transactions. AAStocks Financial News |
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