LegalMar 29, 2026, 08:55 PM
Royal Bank of Canada Trust Company (Bahamas) Limited Conviction Upheld by French Supreme Court
AI Summary
The French Supreme Court upheld the conviction of Royal Bank of Canada Trust Company (Bahamas) Limited (RBCTC Bahamas) regarding a charge of complicity in estate tax fraud. This finalizes the conviction and makes it enforceable against RBCTC Bahamas, including joint and several liability for unpaid inheritance taxes, penalties, and interest.
Key Highlights
- French Supreme Court upheld the conviction of RBCTC Bahamas for complicity in estate tax fraud.
- The conviction is now final and enforceable, including joint and several liability for unpaid inheritance taxes, penalties, and interest.
- Royal Bank of Canada continues to rely on a previously disclosed exemption from the U.S. Department of Labor that allows it to maintain its Qualified Professional Asset Manager (QPAM) status through March 4, 2030.
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