News Summary: French minister denies Swiss account

News Summary: French budget minister sues over claims he hid cash in offshore Swiss account

Associated Press

DEFAMATION CHARGE: French Budget Minister Jerome Cahuzac is filing a legal complaint against a website that claims he has hidden money from French tax authorities in offshore accounts.

SECRET ACCOUNT: The Mediapart website reported that Cahuzac had a secret Swiss bank account until 2010, when the funds were transferred to Singapore. It was not clear if the site contends the account is still open.

CRACKDOWN: Cahuzac has led France's campaign against tax evasion this year. Governments across Europe have cracked down on the practice of avoiding higher tax bills in one country by opening secret accounts in another.

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