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.