Desmond link to tax scam case
A bank linked to Celtic owner Dermot Desmond is facing an £80million fine in France for their part in an alleged tax avoidance scam.
Alexander Pankov, the chairman and president of the Latvian Rietumu Banka of Riga, is also facing a fouryear jail term if convicted.
The al leged scam is known as the France Offshore Affair.
Desmond holds a 31 per cent stake in Rietumu Banka.
The prosecution case alleges a France Offshore website system helped launder £ 606million and avoid £259million in tax.
There is no suggestion D e smond h a d any knowledge or involvement in wrongdoing.