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HSBC board appears in Argentine parliament over billion-dollar tax scandal

Thursday, 02 April 2015 2:09 PM [ Last Update: Thursday, 02 April 2015 2:09 PM ]

Manoel Giffoni
Press TV, Buenos Aires

As the inquest into HSBC over the billion-dollar tax evasion scandal moves forward at a fast pace in a federal court, the Argentine Parliament summoned the Board of Directors of the British bank to appear before the finance committee and account for the offenses and breaches found by the central bank and the Federal Tax Agency which have proven that HSBC designed a complex international platform to help clients dodge taxes and conceal millions of dollars in Swiss accounts.

Despite the conclusive evidences presented by the head of the federal tax agency during the audience, the HSBC top officers denied the accusations and refused to cooperate or answer questions.

The failure to cooperate and total lack of answers were deemed as a disrespectful behavior and an affront to the finance committee. The President of the commission said the issue will be brought to court.

The special congressional committee was formed to probe the HSBC responsibility in the tax evasion case - the biggest ever in Latin America. The head of the Federal Tax Agency demanded the British bank to repatriate over 3500 million US-dollars that it moved to Switzerland to help about 4000 clients evade taxes.

The committee will meet again next week and congressmen are expected to hear the testimonies of dozens of tax dodgers who will be pressed for answers on the HSBC far-reaching network of illegal activities.

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