HSBC Holdings Plc managers and former staff risk an international arrest warrant as Belgium escalated a probe amid new leaks showing how a Swiss unit may have helped rich clients dodge taxes.
Belgian prosecutors said they may step up their part of a global investigation if their request for HSBC to volunteer information fails to yield results. The bank's Swiss private- banking unit was charged in Belgium in November.
"In case no effective collaboration is possible, the investigating judge is considering placing the former directors of the bank, and potentially current ones, under an international arrest warrant," prosecutors said Monday in an e- mailed statement from Brussels.
