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.
This article is summarized by Canadian Fraud News Inc.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.