[Hong Kong Commercial News] French media reported that HSBC's Swiss subsidiary is suspected of helping former Lebanese central bank governor Salameh launder money and conspire in crimes, including embezzlement, breach of trust and bribery of public officials. It has now been formally charged by French authorities.
Salameh ran Lebanon's central bank for 30 years, stepping down in 2023. French authorities launched an investigation in 2021, suspecting he used his position to embezzle public funds and launder money through Europe's banking system. Salameh denies any wrongdoing, insisting his wealth came from private investments and savings.
French prosecutors believe HSBC was involved in the scheme and helped Salameh move illicit proceeds. A local court ordered HSBC to post EUR 80 million bail as security against any future fines.
HSBC declined to comment, but said it would continue to cooperate with the relevant authorities.
(ST)
