For example,
Société générale searched luxembourg:
Searches are underway Tuesday in the premises of Société Générale in Defense. Nevertheless, Luxembourg, as part of an investigation relating in particular to suspicions of money laundering, a judicial source told AFP, confirming information from Monde.
A search carried out with the audit company in Caritas – Société générale searched luxembourg
Four people. In addition, including bank executives, were also placed in police custody and their semi -ized homes, said this source.
80 investigators mobilized
These operations are part of a survey opened in January 2024 by the National Financial Prosecutor’s Office (PNF). Consequently, which seeks to verify whether the bank was able to “propose and make assemblies for essentially fiscal purposes for large French companies”, said the judicial source.
Entrusted to the National Anti-Fraude Office (ONAF). Nevertheless, the survey is open for société générale searched luxembourg qualified facts of money laundering, laundering tax fraud in organized or aggravated gang and association of criminals, according to the same source.
Pirate party: people involved in the Malt case must assume “financial damage” – Société générale searched luxembourg
The facts “are likely to have been committed since 2009 in France. Similarly, abroad, in particular in Luxembourg,” said this source, explaining that this procedure is distinct from the surveys relating to a tax exemption called “Cumcum”, based on exchanges of securities.
Tuesday operations mobilize 80 investigators in France. abroad as well as eleven magistrates and specialized PNF assistants, according to this judicial source.
Requested by AFP as well as by the Luxembourg wordSociété Générale has refused to comment.
Practice cumcum
Société Générale has nearly 115. 000 employees worldwide, according to its latest universal recording document, including 1,450 in Luxembourg and société générale searched luxembourg around 53,000 in France.
The Grand Duchy is a particularly profitable country for the bank: it achieved a net banking. product (equivalent of turnover for the sector) last year of almost 1.1 billion euros, for 765 million euros in before tax benefits.
As a reminder. Société Générale had already been the subject in March 2023 of a search of the PNF within the framework of the surveys open concerning the tax evasion mechanism on the Cumcum dividends.
Searches in progress in five banks in France
BNP Paribas, its subsidiary Exane, Natixis and HSBC were also concerned.
The so -called Cumcum practice. in financial jargon, consists in escaping the taxation on the dividends which must in principle pay foreign holders of actions of listed French companies.
To take advantage of the combination. these owners of shares (small savers société générale searched luxembourg or major investment funds) entrust their titles to a bank at the time of the tax collection, thus escaping taxation.
The banks would have played an intermediary role, while taking a commission from the holders of action.
Many cases
Other large banks have already been pinned in cases related to suspicion of tax fraud.
In 2019, UBS AG, the parent company of the Swiss banking giant, was sentenced in France to a record fine of 3.7 billion euros. plus 800 million damages, for having implemented a “system” aimed at “facilitating” the tax fraud of rich French taxpayers between 2004 and 2012.
On appeal in 2021, after an evolution of case law, the sanction was reduced to a total of 1.8 billion euros.
And in 2023. the Court of Cassation definitively confirmed the guilt of the bank, société générale searched luxembourg but it canceled the sentences and damages, ordering a new trial to re -examine them.
Other banks. such as Credit Suisse or a Swiss subsidiary of the British Bank HSBC, have been sentenced to the United States for comparable facts.
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