UBS Group AG is currently facing a criminal trial in Paris for allegedly harassing whistleblowers who exposed the bank's involvement in helping affluent French clients evade taxes.
The trial centers on the actions of a French unit of the Swiss bank and has been ongoing for over 15 years. The treatment of former auditor Nicolas Forissier, who reported potentially unlawful activities within the bank, is a key focus of the trial. It is claimed that UBS retaliated against Forissier by sidelining him and reducing his bonus.
The outcome of this trial could have significant consequences for the bank's reputation in the financial sector.