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Business briefs

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Published April 13, 2010, 4:00 a.m. ET

HSBC sale

The HSBC building at 425 Fifth Ave. was sold yesterday for $330 mil lion to IDB Holding, an Israeli group. HSBC will lease back most of the 865,000 foot property for 10 years.

Guilty plea

New Jersey resident Harry Abrahamsen pleaded guilty to failing to report more than $1 million he had deposited in Swiss bank accounts.

Bets are off

CEO Vikram Pandit said yesterday that Citi group will limit bets with the bank’s money, stating “I don’t believe banks should be using capital or deposits to speculate.”

GMAC deal

GMAC said yesterday its Residential Capital unit has agreed to sell its European mortgage assets and businesses to affiliates of hedge fund and private-equity firm Fortress Investment.

Galleon trial

Galleon Group founder Raj Rajaratnam and others facing in sider trading charges engaged in securities transactions involving 22 companies, including Goldman Sachs, Cisco Systems and AT&T, prosecutors said in a let ter last night.