A Spanish court is probing seven former executives of HSBC's private Swiss bank on suspicion of money laundering following an investigation of documents in the "Swissleaks" scandal on bank-supported tax evasion, legal sources told AFP Thursday. In an order dated January but not published until now, the National High Court named seven persons under suspicion of "persistent money laundering and criminal association" who in 2006 and 2007 held senior positions at the Swiss subsidiary of HSBC. To make these transfers, HSBC would have collaborated with the Spanish bank Santander and the Spanish subsidiary of the French bank BNP Paribas. The National High Court said it considered there were "indications of suspicion of money laundering". On Wednesday, the Spanish court announced that 10 officials in Spain from Santander and the Spanish subsidiary of BNP Paribas had been indicted in the alleged money laundering case involving the HSBC bank.

Source: Egypt Independent May 05, 2017 03:33 UTC