HSBC Holdings' (HSBC) Swiss Unit Proved by Geneva Officials

HSBC Holdings plc (NYSE: HSBC) is active early Wednesday following news that its offices in Switzerland have been raided by officials.

Geneva Attorney General Olivier Jornot and the prosecutor Yves Bertossa are probing HSBC Private Bank (Suisse) SA in Geneva, according to the WSJ. The investigation comes following allegations of aggravated money laundering from the unit, according to the prosecutor's office.

Individuals associated with the unit may also come under investigation.

News comes following a whistleblower leaking data about HSBC's Swiss unit last week. Data highlighted how HSBC's Swiss unit accommodated clients that were on U.S. sanction lists or were ousted following the Arab Spring and assisted clients in tax-evasion schemes.

The details were revealed by former HSBC computer analyst, Hervé Falciani.

HSBC is positive in early trading.

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