France probes HSBC over Lebanon looted funds

French authorities are investigating the Swiss branch of HSBC Bank, which is accused of money laundering in connection with a case involving stolen funds in Lebanon. They have also charged it with assisting illegal operations that helped former Bank of Lebanon Governor Riad Salameh illegally transfer funds. A financial bail of 80 million euros has been issued for the bank, and the investigation is ongoing without a final conviction. Meanwhile, Salameh and other defendants face charges related to corruption and money laundering, and Lebanon refuses to extradite him to French authorities.

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