HSBC HOLDINGS Faces Prelim Charges by French Prosecutors over Lebanon Central Bank Scandal
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French prosecutors have filed preliminary charges against HSBC Holdings' Swiss private banking arm, alleging it assisted former Lebanese central bank governor Riad Salameh in misappropriating funds. This step allows the case to be referred to an investigating judge for a deeper probe. HSBC stated it cannot comment on legal matters but will continue cooperating with authorities. The bank previously disclosed ongoing investigations into suspected money laundering and terminated relationships with over 1,000 Middle Eastern clients.
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