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Swiss bank enters plea bargain in France over tax fraud: sources

Swiss banking group Reyl has entered a plea bargain with French authorities over allegations it helped clients commit tax fraud, judicial sources said on Thursday.

As part of the deal Reyl agreed earlier this month to pay a fine of 2.8 million euros ($3 million), they said.

Top bank executives Dominique Reyl and his son Francois have been cleared of all charges.

A lawyer for the bank, Kiril Bougartchev, said in a statement seen by AFP that the deal with the French authorities concerned six accounts totalling 4.8 million euros.

The investigation has attracted French media attention after a former bank employee said that more than a dozen French politicians had secret accounts there.

Investigators found no evidence of this and the employee later retracted his allegations.