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In reply to the discussion: Clinton Foundation Received Up To $81m From Clients Of Controversial HSBC Bank - Guardian [View all]Tierra_y_Libertad
(50,414 posts)Don't you just love "practical politics" from the 3rd Way Clintons?
http://www.theguardian.com/news/2015/feb/10/hsbc-tax-files-loretta-lynch-prosecution
Barack Obamas nominee for attorney general, Loretta Lynch, has warned that HSBC could be prosecuted over tax evasion connected to its Swiss subsidiary, despite the controversial agreement she negotiated with the bank two years ago.
In her first remarks since the Guardian and other media obtained a huge cache of leaked data from HSBC Switzerland, Lynch said the Department of Justice would not be constrained from bringing tax evasion charges against the bank if there were sufficient evidence.
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The leaked files from HSBCs Swiss subsidiary show how the bank colluded with some clients to conceal billions of assets from domestic tax authorities across the world. Lynch, who has yet to be confirmed by the Senate, is under pressure to explain what action the DoJ has taken since obtaining the data leak five years ago.
Lynch said in a letter to the Republican chairman of the Senate judiciary committee, Chuck Grassley, that the deal she reached with HSBC in 2012 does not provide [the bank] any protection against prosecution for conduct outside of the terms of that settlement, which was specifically about money-laundering and sanctions breaches.