Belgian Judge Charges Swiss HSBC Branch with Tax Fraud and Money Laundering

                On November 17, 2014, a Belgian investigating judge charged the Swiss private banking arm of HSBC Holdings Plc with tax fraud and money laundering, and forming a criminalization organization, accusing the British-based bank of helping 1,000 high net-worth clients, many diamond dealers from Antwerp, hide cash and evade tax.[1]