UBS Faces Trial in Paris for Alleged Harassment of Whistleblowers

UBS is currently on trial in Paris for alleged harassment of two whistleblowers, Nicolas Forissier and a former marketing manager.

Forissier, a former auditor involved in a tax dispute between Switzerland and France, claims that UBS retaliated against him and his colleague after they exposed the bank's efforts to help wealthy French clients evade taxes.

The marketing manager was fired for refusing to destroy client data as instructed by her superiors, and both whistleblowers experienced reductions in their bonuses.

RĂ©gis Turrini, chairman of UBS France, denies any wrongdoing, attributing the bank's actions to the fallout from the 2007-2008 financial crisis.

However, Forissier argues that UBS's financial troubles were caused by significant errors in its investment banking division, while the wealth management sector remained profitable.

If found guilty, UBS France could be fined up to 75,000 euros and face sanctions for mistreatment of the whistleblowers.

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