 "Swiss banking group Reyl enters plea bargain in France over tax fraud")
Swiss banking group Reyl has entered a plea bargain with French authorities over allegations it helped clients commit tax fraud, judicial sources said today.
As part of the deal Reyl agreed earlier this month to pay a fine of $3 million, they said.
Top bank executives Dominique Reyl and his son Francois have been cleared of all charges.
The investigation has attracted French media attention after a former bank employee said that more than a dozen French politicians had secret accounts there.
Investigators found no evidence of this and the employee later retracted his allegations.
As part of the deal Reyl agreed earlier this month to pay a fine of $3 million, they said.
Top bank executives Dominique Reyl and his son Francois have been cleared of all charges.
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A lawyer for the bank, Kiril Bougartchev, said in a statement seen by AFP that the deal with the French authorities concerned six accounts totalling 4.8 million euros.
The investigation has attracted French media attention after a former bank employee said that more than a dozen French politicians had secret accounts there.
Investigators found no evidence of this and the employee later retracted his allegations.