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Belgian prosecutors settle with HSBC in tax dodging case

Aug 06, 2019 - Associated Press Financial Wire

BRUSSELS (AP) - Belgian prosecutors said Tuesday they have reached a settlement worth nearly 300 million euros ($335 million) with a Swiss private banking branch of HSBC over a longstanding fraud and tax dodging case.

The Brussels prosecutor's office said it was able to reach a settlement partly because of a "change in the wealth management within HSBC," noting the bank had stopped certain offshore services, improved transparency and appointed an anti-fraud director.

The prosecutor's...