The IT specialist had leaked information regarding more than 106,000 clients and their tax situation.
An ex-employee of HSBC’s Geneva private bank has been sentenced to five years in prison.
According to an online article from Reuters, Herve Falciani, who was the IT specialist at the company, had leaked information on clients and their tax situation. He was then convicted of industrial espionage.
Furthermore, the HSBC Swiss unit has been in the spotlight since 2008, when Falciani fled Geneva with files that were exposed to the media and were alleged to show evidence of tax evasion by clients.
Reuters stated that according to French newspaper Le Monde, it identified more than 106,000 clients.
Yet, Falciani who was based in France, did not attend his trial and was away from Switzerland when it was ongoing.
As France does not extradite its own citizens, Falciani may not serve any time in a Swiss prison. In addition, there are no legal proceedings against him in France.