French authorities search 5 banks in Paris in tax fraud case
Headline from Courthouse News Service
The raid comes amid global financial turmoil unleashed this month by the collapse of two U.S. banks and the government-orchestrated takeover of troubled Swiss lender Credit Suisse by its rival UBS.
Courthouse News Service's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
French authorities searched the headquarters of five banks in Paris Tuesday as part of a sweeping tax fraud probe authorities say spans four continents and could involve 1,500 suspects.
French and German prosecutors and investigators conducted searches in and around the French capital. Financial prosecutors say the raid focused on dividend stripping.
French and German prosecutors and investigators conducted searches in and around the French capital. Financial prosecutors say the raid focused on dividend stripping.
French authorities raided five banks on Tuesday as part of an investigation into suspected cases of massive tax fraud and money laundering, prosecutors said.
The raid comes amid global financial turmoil unleashed this month by the collapse of two U.S. banks and the government-orchestrated takeover of troubled Swiss lender Credit Suisse by its rival UBS.
Five of France's biggest banks are facing scrutiny in an ongoing investigation into possible tax fraud. BNP Paribas and Société Générale were among the lenders whose Paris offices have been raided by…
