Nina Ricci heiress jailed for tax fraud

A 73-year-old heiress of the fashion and perfume house Nina Ricci has been convicted of tax fraud and sentenced to a year in prison for hiding millions of euros in the Swiss accounts of the HSBC bank before getting caught in a massive leak of names.

Arlette Ricci was also fined and ordered to pay back taxes in the first ruling 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.