An appeal trial has begun at the Federal Criminal Court in Bellinzona regarding money laundering connected to the Bulgarian mafia.

UBS is now under scrutiny after acquiring Credit Suisse. Previously, Credit Suisse was convicted by the court and ordered to pay a fine of 2 million francs and provide compensation of 19 million. This conviction was due to their involvement in facilitating the laundering of funds from Evelin Banev's criminal network, which was engaged in significant cocaine trafficking into Europe.

UBS has attempted to have the case dismissed, arguing that the collapse of Credit Suisse should be treated as the death of an individual. However, the Court of Appeals rejected this claim. The final decision on the matter will be made by the Federal Supreme Court. UBS has requested a temporary suspension of the appeal process.

The initial ruling has also been appealed by the Federal Public Prosecutor's Office, who are seeking to increase the penalties to the maximum allowed by law - 5 million francs in fines and 41 million in compensation.