HSBC Swiss Leaks: Belgium to Recover €540m in Unpaid Tax

03/06/2015 15:46

Belgian finance minister Johan Van Overtveldt has stated that Belgium is seeking to retrieve about €540m ($600m) in unpaid tax after its probe into 829 accounts in HSBC Private Suisse Bank in Geneva. The people, who were found to be holding cash illegally in Swiss accounts, include diamond merchants, lawyers, aristocrats, company heads and sports personalities, according to local media reports. The Belgian justice ministry, which charged HSBC's Swiss unit for serious organised tax fraud, is carrying out a separate investigation into the illegal accounts and may prosecute the wrongdoers.