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HSBC Employees In Geneva Exit Amid Money Laundering Probe - Report
Eliane Chavagnon
4 December 2012
A number of Geneva-based HSBC staff have left the bank by mutual agreement following the dismantling of an alleged "tens of millions of euros" drug and money laundering case, the Tribune de Genève reports. According to the report, one of the employees to have departed was the brother of three suspects accused of being involved with the case that spanned Spain, Morocco, France and Geneva. However, his lawyer, Marc Bonnant, reportedly said that the man is not involved with the case in any way. "Before the case broke, my client had moved to Israel, but he continued to work with the bank," Bonnant was quoted as saying. "He noted that unfortunately having the same name as his brothers is a problem in relation to customers who didn't know the case. He concluded - as did the bank - that it was better to leave." According to the report, the firm has "lost customers since the wave of arrests" on 10 October. It is unclear how many workers have left overall as a result of the case. HSBC declined to comment on the matter when contacted by WealthBriefing, saying: "It is our policy not to talk about individual employees externally."