HSBC placed under formal criminal investigation in FranceApril 10, 2015 - 14:54 AMT PanARMENIAN.Net - HSBC said it has been placed under formal criminal investigation by French magistrates over alleged past tax-related offences at its Swiss private bank. It added that bail of €1bn ($1.075bn) has been imposed, BBC News reports. HSBC said it believed the French magistrates' decision was "without legal basis and the bail is unwarranted and excessive", adding that it would appeal and "defend itself vigorously". The French claims relate to the conduct of HSBC's Swiss private bank in 2006 and 2007. HSBC has come under fire over what it knew about some clients' tax affairs. Details of some 30,000 accounts at HSBC's Geneva-based private bank were leaked to the French authorities by a whistleblower, Herve Falciani, in 2007. Information about 3,600 UK account holders were passed to HMRC. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Turkey extends military presence in Azerbaijan The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops. Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skills Armenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi Arabia Pashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |