Credit Suisse, which had previously been convicted of money laundering associated with a Bulgarian drug trafficking gang, has been acquitted by a high-level Swiss court.
The Appeals Chamber of the Federal Criminal Court found the bank, now part of UBS, not guilty of violating Article 102(2) of the Criminal Code.
Furthermore, the claim for compensation against the bank has been withdrawn. This ruling is a significant development in the legal challenges faced by Credit Suisse before its bankruptcy and subsequent acquisition by UBS.