Two French banks have been placed under judicial investigation on suspicion of taking part in a scheme to launder money between Israel and France, a judicial official said Tuesday, December 5.
The banks — Societe Marseillaise de Credit (SMC) and BRED — are suspected of having failed to investigate the source of doubtful funds before they accepted them.
The former president of SMC, Pierre Habib-Deloncle, and the director general of BRED, Francois-Xavier de Fournas, were previously placed under judicial investigation in the case along with about 50 other people.
Magistrates conducting the probe uncovered an elaborate scheme in which money was laundered through Israeli religious organizations operating in France.
Two other banks, American Express Bank France and the Lebanese bank Saradar, have also been implicated.— (AFP)
© Agence France Presse 2000