Nina Ricci heiress jailed for hiding millions from French tax authorities with Swiss HSBC

‘Britain has come under renewed criticism for its failure to prosecute tax evaders hiding cash at HSBC’s Swiss arm, as a French court handed down a jail sentence to the heiress of the Nina Ricci fashion and perfume fortune for the same crime.

Arlette Ricci, 73, was sentenced to a year in prison and two years suspended for “fraude fiscale” (hiding millions of euros to evade French taxes). She was also fined €1m (£720,000) and given a suspended sentence of a further two years. Her daughter, Margot Vignat, 51, was also convicted and given an eight-month suspended sentence.

Ms Ricci, who can appeal, was ordered to pay millions in back taxes – the precise amount will be set at a later date. The French court also confiscated two properties worth €4m.’

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