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Names of French with Swiss accounts turned in

Certain politicians in France might not sleep well in their beds tonight. A former banker in Switzerland has handed a list to French authorities which he claims contains the names of 15 prominent lawmakers who have secret Swiss bank accounts.

Names of French with Swiss accounts turned in
Pierre Condamin-Gerbier Photo: Screen capture LCI television

A former official with Swiss bank Reyl et Cie who claimed he knew of 15 French politicians and "big names" with undeclared bank accounts in Switzerland said on Wednesday he had submitted the list to investigators.

Pierre Condamin-Gerbier was a witness before a parliamentary commission investigating former Budget Minister Jerome Cahuzac, who resigned in disgrace in March over an undeclared foreign bank account said to contain around €600,000. Cahuzac is now facing charges of tax fraud.

"The list and information… were transmitted yesterday to French justice," Condamin-Gerbier, who worked at Reyl et Cie between 2006 and 2010, told the commission.

He had earlier said the list contained a number of well-known names. Condamin-Gerbier had refused to name the holders of the banks accounts when he appeared before parliament insisting the responsibility lay with the investigators.

"I can simply say that very big names in French politics figure on this list, people whose faces we are used to seeing on television. These are personalities far better known to the public than Cahuzac," he told newspaper Le Journal du Dimanche last month.

Condamin-Gerbier has also said the family of a serving minister had funds in Switzerland for several years.

Last week, Cahuzac was heard by the same committee in the French parliament. He attempted to clear up any suspicion over whether President François Hollande and Prime Minister Jean-Marc Ayrault, knew of his bank account by insisting he did not tell "the truth to anyone".

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Deutsche Bank to pay $130m to settle US bribery probes

Deutsche Bank will pay $130 million to settle a foreign bribery probe and fraud charges in precious metals trading, US officials announced on Friday.

Deutsche Bank to pay $130m to settle US bribery probes
A woman walks past the offices of Deutsche Bank in London. Photo: Tolga Akmen / AFP
The bribery case relates to illegal payments and to false reporting of those sums on the bank's books and records between 2009 and 2016, the Department of Justice said in a press release.
   
The bank “knowingly and wilfully” kept false records after employees conspired with a Saudi consultant to facilitate bribe payments of over $1 million to a decision maker, the DOJ said.
   
In another case, the bank paid more than $3 million “without invoices” to an Abu Dhabi consultant “who lacked qualifications… other than his family relationship with the client decision maker,” the DOJ said.
   
In addition to criminal fines and payments of ill-gotten gains, Deutsche Bank agreed to cooperate with government investigators under a three-year deferred prosecution agreement.
 
   
In the commodities fraud case, Deutsche Bank metals traders in New York, Singapore and London between 2008 and 2013 placed fake trade orders to profit by deceiving other market participants, the DOJ said.
   
The agreement took into account Deutsche Bank's cooperation with the probes, DOJ said.
   
“Deutsche Bank engaged in a criminal scheme to conceal payments to so-called consultants worldwide who served as conduits for bribes to foreign officials and others so that they could unfairly obtain and retain lucrative business projects,” said Acting US Attorney Seth D. DuCharme of the Eastern District of New York.
   
“This office will continue to hold responsible financial institutions that operate in the United States and engage in practices to facilitate criminal activity in order to increase their bottom line.”
   
“We take responsibility for these past actions, which took place between 2008 and 2017,” said Deutsche Bank spokesperson Dan Hunter, adding that the company has taken “significant remedial actions” including hiring staff and upgrading technology to address the shortcomings.
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