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 Francois Reyl and his father Dominique, Reyl & Cie's chairman, were
put under formal investigation in October on suspicion that the bank
helped a French cabinet minister to hide undeclared assets in a
secret Swiss bank account. The minister, Jerome Cahuzac, stepped
down in March.
A second formal investigation targeting Francois Reyl was announced
on Thursday, aiming to clarify whether the bank had laundered funds
hidden from French tax authorities. It follows the questioning of a
former employee of the bank in April by magistrates.
"The chief executive, Francois Reyl, was questioned by French
investigating magistrates yesterday afternoon related to a procedure
involving a small number of clients," the bank said in a statement.
It said there were disagreements between France and Switzerland as
to whether Swiss banks could be held responsible if their French
clients hid money from their country's taxman.
"The bank is shocked its chief executive has been put under formal
investigation and banned from leaving the country and exercising his
role as director general," bank Reyl said.
Francois Reyl, who is a French citizen, could not immediately be
contacted for comment.
A spokeswoman for Reyl & Cie declined to comment. The Geneva-based
bank has repeatedly denied wrongdoing.
An official at the French prosecutor's office told Reuters the
second formal investigation of Francois Reyl launched by magistrates
on Thursday focused on whether the bank laundered funds hidden from
tax authorities in a small number of accounts.
[to top of second column] |
The former employee of Reyl who was questioned in April, Pierre
Condamin-Gerbier, had said he held a list of French politicians with
undeclared funds in secret Swiss accounts.
Reyl filed a criminal complaint against Condamin-Gerbier in June
alleging theft, falsification of documents and violation of
professional and commercial confidentiality.
Condamin-Gerbier was arrested in July on his return to Switzerland.
His lawyer said in August that his client had made up the claims
about the list of politicians' secret accounts in a misguided
attempt to alleviate pressure on himself.
He was released on bail in September.
Switzerland has come under growing international pressure to change
its banking secrecy laws, which other governments say enable many of
their wealthy citizens to avoid taxes.
(Reporting by Silke Koltrowitz;
additional reporting by Gerard Bon in Paris and Stephanie Nebehay in
Geneva; editing by Mark Potter and Tom Pfeiffer)
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