Jpmorgan settles French tax-fraud case for $30 mn

Jpmorgan Chase settled a longstanding French criminal investigation over allegations it helped clients commit tax fraud for 25 million euros ($29.6 million). The case relates to allegations of tax fraud seen to benefit former managers at investment firm Wendel, top financial prosecutor Jeanfrançois Bohnert said at a Thursday court hearing in Paris. The bank’s involvement revolves mainly over financing provided by its Paris branch to the managers in 2007.