HSBC Set to Pay About $300 Million to Settle French Criminal Case
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000HSBC Holdings Plc is poised to pay around $300 million to settle a French criminal case into its alleged role in the “Cum-Cum” tax scandal that’s embroiled some of the biggest banks in the country, according to people familiar with the matter.A proposed settlement with prosecutors from the Parquet National Financier is expected to be reviewed by a Paris judge at a court hearing in the next few weeks, said the people, who spoke on condition of anonymity.