French court slashes HSBC tax investigation bail to 1 million euros

French appeal court reduced the bank's bail from 1 billion euros in relation to a probe into alleged tax evasion and money-laundering activities.

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A French court reduced the bail HSBC Holdings Plc must post in connection with a criminal probe into tax evasion by its private-banking clients to 100 million euros ($112 million) from 1 billion euros, reports Bloomberg.