Nina Ricci heir sentenced to prison, millions in fines over French tax fraud after HSBC leaks

The heiress of the fashion and perfume house Nina Ricci has been sentenced to a year in prison and ordered to pay heavy fines and back taxes for having hidden millions of euros in HSBC bank accounts in Switzerland.

Monday's ruling was the first involving a famous name in the so-called Swissleaks scandal, in which a former HSBC employee gave authorities thousands of names of suspected tax evaders. Other trials are expected to follow.

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A Paris court convicted Arlette Ricci, 73, granddaughter of designer Nina Ricci, of tax evasion and money laundering. The court ordered a 1-million-euro fine and the confiscation of two properties worth 4 million euros.

The court ordered Ricci, a lawyer and two companies to pay millions in back taxes.

Her lawyer is deciding whether to appeal.