A special investigation team for India’s Supreme Court has found that 339 Indians have evaded taxes by between them stashing the equivalent of $761 million in accounts of the Geneva branch of the HSBC. The team recommended the confiscation of assets in India of those with illicit foreign accounts. The court set up the team after getting from the French government the names of 628 Indians with accounts in the HSBC Geneva branch. Swiss authorities last week began the prosecution of former HSBC employee Hervé Falciani, who leaked the information.
