Crédit Agricole first French bank to settle ‘cum cum’ tax fraud probe
Lender pays €88mn as prosecutors pursue five other lenders alleged to have helped clients evade levies on dividends
Lender pays €88mn as prosecutors pursue five other lenders alleged to have helped clients evade levies on dividends

France’s largest lender says issue affecting its global markets unit involves financing of receivables

Move follows investigation into bank’s handling of trades between 2014 and 2019

Investigators search properties linked to alleged scheme to defraud Patrick Drahi’s company of hundred of millions of euros

BNP Paribas and Crédit Agricole report higher first-quarter profit but are unable to fully capitalise on market volatility

Original judgment had threatened to leave lenders on hook for tens of billions of pounds in compensation

Financial regulator set to announce by Monday if it will impose an industry-wide redress scheme