RBC acquitted in sophisticated Bahamian tax fraud case

Supported By:

Net Patrol International Inc.  Data Investigation and Forensic Services
Bankruptcy and Insolvency Trustees

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.