A French court has acquitted Royal Bank of Canada’s Bahamian wealth management subsidiary of complicity in an inheritance tax fraud case, according to a new regulatory filing.
Sophisticated tax fraud and money-laundering scheme
French prosecutors were calling for RBC to be hit with the maximum fine allowed for its alleged role in a sophisticated tax fraud and money-laundering scheme. RBC long denied any wrong doing and nearly two years after the allegations were first made RBC has been acquitted.
Read more at The Globe and Mail.
