As a news story the HSBC Swiss banking scandal has it all: whistleblowing, wealthy individuals dodging tax and, since a French court convicted the heir to the Nina Ricci fashion house fortune of tax fraud last month, a touch of glamour.
Arlette Ricci (pictured, top) – who may appeal – is the first high-profile individual to be found guilty of tax fraud after the details of more than 100,000 accounts from HSBC’s Swiss private banking arm were leaked in 2010 by Herve Falciani, a former employee of the bank. Full details of the scandal – known as Swiss Leaks – came to light in February this year. HSBC has admitted that its Swiss private bank had “a number of clients who may not have fully met their applicable tax obligations”.
