Nina Ricci heiress Arlette found guilty in HSBC Swiss tax fraud leaks case
Arlette Ricci, heiress to the Nina Ricci perfume and fashion fortune, has been found guilty of tax fraud in a case prompted by a leaked list of people who used the services of HSBC in Switzerland.
A Paris court sentenced Ricci, the 73-year-old granddaughter of co-founder Nina Ricci, to three years in jail with two suspended, and also ordered her to pay a €1m (£720,000) fine.
She was tried on charges that she hid more than $22m (£15m) from the French tax authorities using accounts and offshore entities based in Panama.
HSBC’s Swiss subsidiary is being pursued by French magistrates who suspect it of large-scale tax fraud,on the basis of a list of around 3,000 names leaked by former HSBC employee Herve Falciani.
HSBC Holdings was ordered to post a bail bond of €1bn last week to cover possible fines. The bank has described the French authorities’ decision to investigate as legally groundless.