HSBC Swiss unit to pay $192 million to settle U.S. tax investigation
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(Reuters) - The Swiss private banking unit of HSBC Holdings Plc will pay $192.4 million (£149.96 million) in penalties to settle a U.S. Department of Justice investigation into the bank helping its U.S. clients conceal assets abroad and evade taxes, the agency said on Tuesday.The DoJ filed a charge of conspiracy to defraud the United States against HSBC Private Bank (Suisse) SA but agreed to drop it in three years if it abides by a deal submitted in a federal court, according to court..