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Provider: Reuters Investment Profile
$20.00
Provider: Directors Deals Ltd.
$12.00

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KBC Groupe SA Faces Fraud Charges in France-Le Figaro


Thursday, 30 May 2013 08:00pm EDT 

Le Figaro reported that the state prosecutor in France is initiating legal proceedings against KBC Groupe SA. According to Le Figaro, the Company faces a charge of fraud relating to the sale of structured products to Shanti Asset Management in 2006. Shanti Asset Management claims that the Company broke a promise in its sales documentation to replace defaulting assets which were part of the products with healthier ones at no extra charge. KBC Groupe SA argues that this promise was not a legal obligation and did not form part of the contract signed by Shanti Asset Management. 

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25 Nov 2014