Credit Suisse, now part of UBS after collapsing in 2023, has been acquitted of a conviction related to money laundering involving a Bulgarian cocaine trafficking gang.
The Federal Criminal Court's appeals chamber in Switzerland announced the decision, lifting the compensation claim against the bank.
The court found that Credit Suisse did not violate the Swiss criminal code pertaining to the failure to prevent money laundering.
This ruling is significant for the bank, which has faced legal challenges in recent years.