HSBC Charged in French Probe Into Embezzled Lebanese Funds (2)

HSBC Holdings Plc’s Swiss unit was charged in Paris as part of an investigation into suspicions it helped a former Lebanese central bank Governor embezzle funds, according to French financial prosecutors.

The bank faces charges in France of money laundering by an organized group and conspiracy to commit offenses such as embezzlement of public funds, breach of trust or bribery of a public official. Le Monde reported the news earlier.

“This is a stage of an ongoing investigation process in France; no charges have been filed and we continue to cooperate,” HSBC said on Friday.

Since 2020, Swiss prosecutors ...