Swiss private bank Reyl Group has received a request for a hearing by French judges involved in investigations over former French budget minister Jerome Cahuzac for suspected tax fraud.
Jerome Cahuzac, who was forced to resign the Government on March 19 admitted that he has opened his account credited 685,000 in 1992 from UBS before handing the management Reyl. He also added that he has transferred his assets in Reyl from Switzerland to Singapore in fall 2009.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Reyl said it would cooperate with the French request in strict compliance with Swiss law, which provides for client secrecy and privacy.
Prosecutors in Geneva had investigated at the request of the French courts to confirm the existence of an undeclared former French Minister of Budget Swiss bank account.
François Reyl, the director general of the Geneva bank, was heard in April at the request of the Swiss prosecutor Yves Bertossa.
In May, the French justice had launched another investigation after Reyl statements on April 18, a former bank employee, Pierre-Condamin Gerbie . The bank has filed a criminal complaint against him, alleging theft, falsification of documents and violation of professional and commercial confidentiality.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAfter being testified before the parliamentary commission of inquiry into the case Cahuzac Condamin-Gerbier had been remanded in custody in Switzerland in early July after saying he held a list of French politicians with undeclared funds in secret Swiss bank accounts.
