Former French budget minister, Jerome Cahuzac was dishonest to Swiss bank Julius Baer when he claimed that funds paid into his account had been declared to tax authorities, according to Zurich-based newspaper Tages Anzeiger.

Cahuzac, reportedly, presented a "bogus tax certificate" to Julius Baer to evade tax payment.

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Additionally, Philippe Peninque, Cahuzac’s friend, paid the untaxed EUR600,000 (US$968,000) into an account at a Geneva branch office of Swiss bank UBS in 1992 in his own name, and Cahuzac changed the account into his name during a visit to Geneva a few months later, reported French newspaper Le Monde recently.

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