French Authorities Continue Raids on SocGen Offices in Tax Fraud Investigation
Searches at Societe Generale's Paris and Luxembourg offices enter second day as part of a tax fraud inquiry.
French authorities have extended their search operations at Societe Generale's (SocGen) offices in both Paris and Luxembourg for the second consecutive day, as they investigate the French bank for potential tax fraud.
According to a judicial source, the raids are part of a preliminary investigation initiated in 2024 by the prosecution office, focusing on allegations of 'tax fraud laundering,' 'organized or aggravated tax fraud laundering,' and 'criminal conspiracy.' SocGen has remained silent regarding the matter, declining to comment on the ongoing legal proceedings.
The detailed nature of the charges underscores the complexity and seriousness with which French authorities view this case, implicating multiple facets of financial misconduct within the banking institution.
According to a judicial source, the raids are part of a preliminary investigation initiated in 2024 by the prosecution office, focusing on allegations of 'tax fraud laundering,' 'organized or aggravated tax fraud laundering,' and 'criminal conspiracy.' SocGen has remained silent regarding the matter, declining to comment on the ongoing legal proceedings.
The detailed nature of the charges underscores the complexity and seriousness with which French authorities view this case, implicating multiple facets of financial misconduct within the banking institution.
