Bank Reyl Fined in French Tax Fraud Case

Bank Reyl has been fined by the authorities in France for its part in a case of tax fraud, prompting memories of the Cahuzac affair.

Bank Reyl was fined 2.8 million euros for its involvement in the tax fraud after pleading guilty, «AFP» news agency reported today.

The case involved six accounts with assets amounting to 4.8 million euros. There are no connections to politicians in this case, according to the lawyer of Bank Reyl.

Reyl shot to fame in France in connection with an affaire that engulfed former French Budget Minister Jérôme Cahuzac. The minister, who's since resigned from his post, in 2013 admitted having a secret account at the bank, having denied the charge for months. The amount concerned was 600,000 euros.

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