french court throws out tax fraud case against jp morgan
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

French court throws out tax fraud case against JP Morgan

Arab Today, arab today

Arab Today, arab today French court throws out tax fraud case against JP Morgan

A French appeals court on Monday dropped a case against JPMorgan Chase for allegedly aiding tax fraud at the
Paris - Arab Today

A French appeals court on Monday dropped a case against JPMorgan Chase for allegedly aiding tax fraud at the Wendel investment group, citing clerical errors, sources at the prosecutors office said.

Prosecutors, suspecting the US bank of helping Wendel top managers to hide more than 300 million euros ($368 million at current rates) from the French taxman in 2007 and 2008, in 2016 ordered it to stand trial for "complicity in tax fraud", alongside current and former Wendel top brass.

The latter included former chairman Jean-Bernard Lafonta and Ernest-Antoine Seilliere, who for seven years also ran French employers lobby group Medef.

 

But appeals by JP Morgan prevented the trial from taking place until, on Monday, the Paris appeals court cancelled proceedings "because of problems with procedure and the notification of rights", a source close to the case said.

This does not, however, necessarily mean the end of the case for JP Morgan, a judicial source said.

A higher Paris court could still ask the French financial crime squad to investigate further, possibly leading to a reopening of the case, the source said.

The investigation against JP Morgan was launched in June of 2012 after the French tax authorities discovered a financial instrument called Solfur which yielded a net 315 million euros for its shareholders -- including three Wendel board members and 11 top managers at the firm -- for an initial investment of just 996,250 euros.

The gain was "completely tax-free", according to a 2015 document by the financial fraud squad which suspected tax fraud

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

french court throws out tax fraud case against jp morgan french court throws out tax fraud case against jp morgan

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

french court throws out tax fraud case against jp morgan french court throws out tax fraud case against jp morgan

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 19:14 2016 Friday ,09 September

Macedonia's GDP up by 2.2% in Q2

GMT 20:33 2016 Thursday ,29 December

Minister meets AL chief on suicide conference

GMT 21:34 2017 Monday ,29 May

Kenya unveils first new railway in a century

GMT 15:06 2017 Tuesday ,17 January

Dar Al Ber initiates ‘Barq of Giving’ service

GMT 11:10 2016 Monday ,05 December

New swimming stars seek to shine

GMT 15:29 2016 Saturday ,17 September

UN Chief Condemns Netanyahu's 'Ethnic Cleansing' Remark

GMT 09:40 2015 Thursday ,19 March

Yahoo shutting office, cutting jobs in China

GMT 14:53 2017 Wednesday ,27 December

UAE, Kuwait to meet tomorrow at 23rd Arabian Gulf Cup

GMT 17:52 2016 Friday ,09 September

Donald Trump: the (Russian) people’s choice

GMT 04:24 2017 Thursday ,13 July

JLo back with ex Marc Anthony

GMT 14:34 2017 Wednesday ,11 January

Egypt’s cost-of-living soars as currency dives

GMT 01:28 2016 Saturday ,26 November

King of Bahrain receives Abdullah bin Zayed, GCC FMs

GMT 18:14 2016 Wednesday ,30 November

Mosul campaign going according to plan

GMT 11:29 2016 Saturday ,17 September

All Blacks crush Springboks in six-try rout

GMT 19:26 2017 Wednesday ,12 April

Sheikh Tamim bin Hamad Al-Thani Arrives in Pretoria

GMT 20:16 2017 Monday ,20 February

SDF retake 2 more villages eastern Riqqa

GMT 14:29 2016 Friday ,18 November

Bahrain Press headlines
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday