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.
