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Belgium Eyeing Arrest Warrants for HSBC Managers

Roberta Holland | February 11, 2015

As the fallout continues from sweeping revelations of massive tax evasion allegedly orchestrated by HSBC’s Swiss subsidiary, Belgium this week signaled the possibility of hitting some of the private bank’s managers with arrest warrants.

According to reports by Deustche Welle and other media outlets, Belgian officials are frustrated by a lack of cooperation from HSBC, whose Swiss unit is facing charges in the country for fraud and money laundering totaling hundreds of millions of euros. Prosecutors said the company has fallen short in its pledge to cooperate.

Belgian investigating judge Michel Claise reportedly said on Monday he is considering whether to issue international arrest warrants for former and current directors of the HSBC Swiss unit, Deutsche Welle reported.

“The bank is not giving the required information voluntarily. The judge has said that if it’s so hard to get the...

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