Swiss leaks – the managers of HSBC bank will not be placed under arrest
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Swiss leaks – the managers of HSBC bank will not be placed under arrest

©Belga
©Belga

The Brussels Prosecutor’s Office said that there has been no international arrest warrant issued for the managers of the Swiss bank HSBC. The bank offered to collaborate in tax fraud, laundering and illegal use of a financial intermediary. The managers are not expected to be placed under arrest, as they responded to court summons, the Prosecutor’s Office said. The situation is different for an intermediary who left HSBC several years ago, and he could be arrested.

The investigating judge said he was “impatient” to see the attitude the Swiss authorities would adopt, “with no other grievances”.

HSBC Private Bank SA was implicated in organized tax fraud, laundering, organized crime and illegal use of a financial intermediary in November. The investigating judge in charge of the case said he was ready to hand out arrest warrants for the bank’s former and current managers on Monday, if they did not cooperate with Swiss judicial authorities.

(Source: Belga)

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