Arlette Ricci, 73-year-old granddaughter of Nina
Ricci, was sentenced to three years in jail with one year
suspended and ordered to pay a fine of 1 million euros ($1.05
million) in a verdict read out by a judge at a criminal court.
She was tried on charges that she hid more than $22 million from
the French tax authorities using accounts and offshore entities
based in Panama.
HSBC's Swiss subsidiary is itself being pursued by French
magistrates who suspect it of large-scale tax fraud. HSBC
Holdings Plc was ordered last week to post a bail bond of 1
billion euros to cover possible fines in a move it said was
legally groundless.
In an affair dubbed "Swissleaks", HSBC's Swiss private bank unit
is being pursued along with scores of wealthy individuals whose
names appeared on lists of some 3,000 client names leaked to
French authorities by a former HSBC employee, Herve Falciani.
($1 = 0.9498 euros)
(Reporting by Chine Labbe; Writing by Brian Love; Editing by
Andrew Callus)
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