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Swiss Prosecutors Probe HSBC Subsidiary for Money Laundering

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The logo of HSBC Private Bank is pictured in Geneva, Switzerland, Wednesday. Feb. 18, 2015.  Geneva prosecutors searched the premises of HSBC's Swiss subsidiary on Wednesday, after launching a money-laundering investigation over a report that the bank helped hide millions of dollars for drug traffickers, arms dealers and celebrities.  (AP Photo/Keystone,Martial Trezzini)

The logo of HSBC Private Bank is pictured in Geneva, Switzerland, Wednesday. Feb. 18, 2015. Geneva prosecutors searched the premises of HSBC’s Swiss subsidiary on Wednesday, after launching a money-laundering investigation over a report that the bank helped hide millions of dollars for drug traffickers, arms dealers and celebrities. (AP Photo/Keystone,Martial Trezzini)

GEIR MOULSON, Associated Press

BERLIN (AP) — Geneva prosecutors searched the premises of HSBC’s Swiss subsidiary on Wednesday after launching a money-laundering investigation over a report that the bank helped hide millions of dollars for drug traffickers, arms dealers and celebrities.

Prosecutors said they were investigating HSBC Private Bank (Suisse) SA and persons unknown for suspected aggravated money laundering. The investigation could later be extended to people suspected of committing or participating in money laundering, they said in a statement.

The investigation stemmed from “the recent public revelations” about the private bank, prosecutors said. They said a search at its premises in Geneva was carried out Wednesday, but gave no details.

Last week’s report from the International Consortium of Investigative Journalists and several news organizations found that the bank hid millions of dollars as it helped wealthy people around the world dodge taxes.

It was based on leaked documents covering the period up to 2007 and relating to accounts worth $100 billion held by more than 100,000 people and legal entities from 200 countries.

A former HSBC employee, Herve Falciani, gave the data to French tax authorities in 2008. France shared it with other governments and launched investigations. The French newspaper Le Monde obtained a version of the data and shared the material with the ICJ, which analyzed the material together with other international media.

Some details of such operations were disclosed previously, when HSBC — which is based in London but has operations globally — was fined in 2012 by the U.S. for allowing criminals to use its branches for money laundering. But this month’s report disclosed a more detailed cache of data and information.

“We have cooperated continuously with the Swiss authorities since first becoming aware of the data theft in 2008 and we continue to cooperate,” HSBC’s Swiss subsidiary said in a brief emailed statement Wednesday.

Its CEO, Franco Morra, said last week that the private bank had shut down accounts from clients who “did not meet our high standards,” and that the revelations about “historical business practices” were a reminder that the old business model of Swiss private banking was no longer acceptable.

Prosecutors said they were targeting the HSBC private bank under a law that allows companies to be investigated independently of whether any employees are culpable “if it can be accused of not having taken all the organizational measures necessary” to prevent violations of the law.

Last year, Swiss authorities indicted Falciani on charges of data theft and said they may try him in absentia.

____

Frank Jordans contributed to this report.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Activism

At the event, 16 entities signed the EIP pledge, vowing to take steps to increase public contracting opportunities in their spheres for small and historically underutilized businesses.  The pledge signees included Hub International, the Port of San Francisco, the San Francisco Public Utilities Commission, California High-Speed Rail Authority, the Port of Oakland, Robert Graham of Webcor Builders, Holder Construction, the Weitz Company, Sky Blue Builders, Hornblower, Swinerton, Luster National, Talson Solutions, Center for Community Wealth Building, and the Construction Contractors Alliance.

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Toks Omishakin, secretary of the California State Transportation Agency, was one of the speakers at the event. Photo by Shellee Fisher Photography and Design.
Toks Omishakin, secretary of the California State Transportation Agency, was one of the speakers at the event. Photo by Shellee Fisher Photography and Design.

By Calvin Naito, Special to The Post

On June 4, a national nonprofit named the Equity in Infrastructure Project (EIP) – which aims to increase public construction contracting opportunities for small and historically underutilized businesses – held a day-long event in downtown San Francisco to rally supporters and build momentum to its cause.

It was attended by more than 100 individuals from public agencies, private firms, and other organizations committed to increasing contracting opportunities with governmental agencies, thereby creating more competition and lowering public costs.

The EIP event was held the Hyatt Regency San Francisco in conjunction with BuildIT, which aims to increase contracting opportunities for LGBT-owned businesses.

At the event, 16 entities signed the EIP pledge, vowing to take steps to increase public contracting opportunities in their spheres for small and historically underutilized businesses.

The pledge signees included Hub International, the Port of San Francisco, the San Francisco Public Utilities Commission, California High-Speed Rail Authority, the Port of Oakland, Robert Graham of Webcor Builders, Holder Construction, the Weitz Company, Sky Blue Builders, Hornblower, Swinerton, Luster National, Talson Solutions, Center for Community Wealth Building, and the Construction Contractors Alliance.

Following the workshop, BuildIT hosted a VIP evening reception honoring EIP, whose principals – Phil Washington, John Procari, and Rick Jacobs – accepted the award.

The event also set in motion the coalition’s efforts to implement recommendations from EIP’s “Procurement for Prosperity: A Playbook.”

The Playbook is a practical guide for public agency leaders and procurement and contracting practitioners to grow the capacity of small and first-time contractors, strengthen competition, and deliver better value for taxpayers.

Toks Omishakin, Secretary of the California State Transportation Agency (CalSTA), a long-time EIP supporter, also told attendees, “This is about commitment.  This has been a life’s work. This is a tailwind moment.”

The event’s presenting sponsor was Hub International, one of the largest insurance brokerages in the nation, which was joined by partners Travelers Insurance and the State Compensation Insurance Fund.

After the pledge-signing ceremony, attendees participated in a workshop in which they examined the policies, practices, and programs needed to meet EIP goals, learned from practitioners, and identified next steps toward utilizing the Playbook.

Ingrid Meriwether, formerly of Merriwether & Williams Insurance Services (MWIS) and current president of Hub International’s Aligned Risk Management, MWIS, described the hard-fought lessons she and her MWIS team have learned over the last three decades administering contractor development programs (CDPs) for the City and County of San Francisco, Alameda County, City of Los Angeles, LA Metro, and other municipalities.

The CDPs help small and local construction firms win public infrastructure contracts with these government agencies.  The program provides bonding assistance, contract financing, technical support, training, and other services to underrepresented businesses funded by public agencies who seek greater contracting participation with these firms.

Merriwether said programs like these “break down systemic barriers, create greater fairness, and save taxpayers money by enabling more competition.  The contractor development programs have, cumulatively, over two decades, helped contractors access over $1 billion in bonding, supporting over $380 million in awarded contracts, and maintaining a loss ratio 250 times lower than the industry average – while saving participating municipalities more than $27 million in contracting costs as a result of enabling more competition.”

Rick Jacobs, EIP co-founder and co-chair urged attendees make plans to meet again in the near future “to continue building on this work, share progress on organizational commitments, and discuss how we can collectively advance the goals of the EIP pledge.”

For more information on the EIP and to access a copy of the Playbook, go online to https://equityininfrastructure.org/

Calvin Naito is communications manager for Equity in Infrastructure Project.

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Activism

Oakland Museum Presents Landmark Retrospective Celebrating Beloved Bay Area Artist Mildred Howard

“Poetics of Memory” coincides with a year of major recognition for Howard. In 2026, she received the California Arts Council’s 50th Anniversary Award, honoring artists whose work has shaped California’s cultural and civic life, as well as the Museum of the African Diaspora’s Artist Impact Award. In 2025, she was awarded a prestigious Guggenheim Fellowship in recognition of her transformative contributions to American cultural life.

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Mildred Howard. Photo by Christine Cueto for the Oakland Museum of California, 2025.
Mildred Howard. Photo by Christine Cueto for the Oakland Museum of California, 2025.

Special to The Post

The Oakland Museum of California (OMCA) opened “Mildred Howard: Poetics of Memory,” the first major museum survey of Bay Area artist Mildred Howard, on June 12.

The exhibition spans five decades of Howard’s influential work, bringing together immersive installations, found-object sculptures, archival materials, and new commissions that explore memory, identity, and power in American life.

“Poetics of Memory” coincides with a year of major recognition for Howard. In 2026, she received the California Arts Council’s 50th Anniversary Award, honoring artists whose work has shaped California’s cultural and civic life, as well as the Museum of the African Diaspora’s Artist Impact Award. In 2025, she was awarded a prestigious Guggenheim Fellowship in recognition of her transformative contributions to American cultural life.

Howard was born in San Francisco in 1945 and raised in the East Bay, where she went on to study Afro-Haitian dance, make and sell clothing, and experiment with collage and sculpture.

Her multimedia art practice emerged from these experiences, later becoming associated with West Coast conceptual art, San Francisco funk, and a vibrant community of artists like Oliver Jackson, Betye Saar, and Raymond Saunders. Since the 1970s, she has used found materials and family stories to explore memory—both individual and collective.

At OMCA, visitors enter “Poetics of Memory” through a series of intimate galleries featuring Howard’s early mixed-media pieces and sculptures, along with a large video projection of a number of her public artworks.

Together, they emphasize Howard’s interest in everyday objects as powerful carriers of individual and shared stories. Highlights include collages that remix images of the artist herself; found-object sculptures like The History of the United States with a few Parts Missing (2007) that address omissions in dominant narratives; and public works like “Locks and Keys for Harry Bridges” (2001) that transform urban space into a meditation on access and labor.

This culminates in a richly detailed “studio” environment, where works in progress, archival exhibition flyers, historic photographs of Howard and her community, postcards from fellow artists, and other materials offer insight into her creative process and daily life.

The exhibition then opens into a high-ceilinged, dramatically lit space that brings together Howard’s signature immersive installations. On one end, “Crossings” (1997/2026) – a field of hundreds of ceramic eggs leading to an ornate mirror – suggests cycles of birth, motherhood, and transition, while drawing on the emotional echoes of the Middle Passage. On the other end, “Blackbird in a Red Sky” (a.k.a. “Fall of the Blood House”) (2002) – a red glass shack bordered by a pond – also uses reflection and transparency to draw viewers into the work and prompt consideration of themes of identity and home.

Howard’s newest video installation, “Moving Stills” (2026), repurposes never-before-seen family footage she took as a teenager on a train trip to the American South. Projected onto cascading layers of translucent fabric that stretch across an entire gallery wall, the piece immerses viewers in a layered meditation on memory, migration, and time.

The “Mildred Howard: Poetics of Memoryexhibit will be on display through Oct. 11 at the Oakland Museum of California, 1000 Oak St., Oakland, CA 94612. Museum hours are Wednesday through Sunday, 11 a.m. to 5 p.m., with extended hours on Fridays to 9 p.m.

This story is sourced from the Oakland Museum of California press office.

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Alameda County

Ferry Fares to Increase July 1 as Ridership Hits Record Highs

The Oakland and Alameda routes will increase from $4.90 to $5.10, the South San Francisco route will go up from $7.40 to $7.60, and the Vallejo route will increase from $9.90 to $10.

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Courtesy photo.

By Mike Aldax, The Richmond Standard

Starting July 1, the standard adult fare for the San Francisco Bay Ferry route between Richmond and San Francisco will increase to $5.20, up from the current $4.90.

Discounted fares for eligible passengers, including youth, seniors, people with disabilities, and Clipper START users, will rise to $2.60 from the current $2.40. Children under 5 will continue to ride for free.

The Oakland and Alameda routes will increase from $4.90 to $5.10, the South San Francisco route will go up from $7.40 to $7.60, and the Vallejo route will increase from $9.90 to $10.

The adjustments are part of a systemwide fare update approved by the agency’s Board of Directors, which is moving away from a flat 3% annual increase to route-specific pricing for the 2027 and 2028 fiscal years.

This fare update arrives as San Francisco Bay Ferry celebrates a historic May, transporting 301,270 passengers. The record-breaking figure represents an 8% increase over May 2025 and marks the third consecutive month of record-setting ridership.

Furthermore, it is the sixth month in a row that passenger numbers have exceeded pre-pandemic levels. Weekend travel has been a primary driver of this growth, with average weekend ridership seeing a 56% increase compared to pre-pandemic trends.

The agency states that the fare adjustments are necessary to ensure the long-term fiscal sustainability of public ferry services. By shifting to route-specific adjustments, the agency aims to offset rising operating costs while maintaining the high levels of service frequency and reliability.

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