Former HSBC Senior Banker Acquitted in Tax Fraud Case

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A French court has acquitted the former head of the EU-Israeli department of HSBC’s Swiss private bank for assisting clients conceal figures which have been released showing a total nearing EUR €1.8 billion.

Mr Judah Elmaleh was originally charged by the French authorities in 2016, since then, the former banker has provided court evidence that was found to be useful in the wider investigation of HSBC, a move which resulted in HSBC having to compensate the French government for over EUR €320 million.