High Court shelves Botín Swiss bank account case

Court decides that Santander chief has “regularized” situation with the Tax Agency

The High Court has decided to shelve a case of alleged tax fraud against Emilio Botín, the chairman of leading Spanish bank Santander, and other members of his family, in connection with accounts held with HSBC’s Swiss private banking division, judicial sources said Tuesday.

The court argued that Botín and 11 other members of his family had “regularized” their situation with the Tax Agency by paying back taxes in 2010, pre-empting any possible proceedings for tax fraud.

The case arose after the French tax authorities in 2010 alerted Spain that Botín, his daughter Ana Patricia Botín (the head of Santander’s British banking unit), his brother Jaime and five of his brother’s children were among the names of 659 Spanish residents who hold secret Swiss accounts at HSBC Private Bank, with a combined value of some six billion euros.

The Botín family claimed that the money deposited in the Swiss account belonged to Botín’s father, Emilio Botín Sanz de Sautuola y López, who fled with the money from Spain after the Civil War broke out in 1936.

Twelve members of the Botín family made adjustments to 72 tax returns for the years 2005 to 2009 and paid 200 million euros in back taxes on the money they had inherited. The ruling called this procedure “correct.”

The origin of the investigation of the Botín family dates back to 2006, when an HSBC Private Bank employee stole data on 24,000 clients who held secret accounts with the lender. The employee subsequently gave the information to the French authorities.

Comentar Normas

Para poder comentar debes estar registrado en Eskup y haber iniciado sesión

Darse de alta ¿Por qué darse de alta?

Otras noticias

Últimas noticias

Ver todo el día

La presencia de humo en estaciones de Barcelona paraliza Cercanías

El País Barcelona

La línea 1 de metro también se ve afectada y se ha cerrado el tramo entre Plaza España y Glòries

Tokio prolonga la jornada negra en las Bolsas de todo el mundo

El País Madrid

Con Pekín o Shanghái cerrados por el Año Nuevo, el principal índice japonés se deja un 5,4%

¿Andara o anduviera? Errores gramaticales en canciones clásicas del pop español

Verbos mal conjugados, concordancias eludidas… El que tiene boca (para cantar) también se equivoca

EL PAÍS RECOMIENDA

El verdadero poder de los ocho apellidos vascos

José Luis Barbería San Sebastián

El nacionalismo prima la representación de nombres en euskera

Los 20 mejores menús del día de España

¿Hay mayor satisfacción que un menú del día que te alegre el ídem?

Lo más visto en...

» Top 50


Webs de PRISA

cerrar ventana