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The public prosecutor has requested a maximum fine of 225,000 euros against UBS's French subsidiary for harassing two whistleblowers who exposed its tax evasion practices. The defense called for acquittal, citing the bank's financial struggles during the 2008 crisis as context. The Paris Criminal Court will announce its decision on March 10, 2025.
UBS's French branch faces a 225,000 euro fine for harassing whistleblowers who exposed the bank's illegal tax evasion practices. Prosecutors allege that between 2008 and 2010, the bank pressured executives Stéphanie Gibaud and Nicolas Forissier, leading to their dismissal. The trial, which began on December 3, also addresses charges of moral harassment and witness tampering, with a verdict expected on March 10, 2025.
The public prosecutor has requested a maximum fine of 225,000 euros against UBS's French subsidiary for moral harassment of whistleblowers who exposed a tax evasion scheme. The case, which has lasted over 15 years, highlights the necessity of the Sapin II law protecting whistleblowers. The Paris Criminal Court will announce its decision on March 10, 2025.
UBS France has been fined €225,000 for harassing whistleblowers who exposed a tax evasion scheme. The prosecutor highlighted the bank's "incredible resistance" in linking the harassment to the tax fraud case, while the defense called for acquittal, citing the financial crisis as a context for management decisions. The court's ruling is expected on March 10, 2025.
UBS is facing trial in Paris for allegedly harassing whistleblowers Nicolas Forissier and Stéphanie Gibaud, who played key roles in exposing the bank's tax issues with France. The French state has filed a criminal complaint against UBS, with proceedings ongoing since December 3.
UBS Group AG faced allegations of harassment against former whistleblowers during a trial in Paris, with a representative expressing shock at witnesses likening the bank to a mafia. Régis Turrini, chairman of UBS France, denied any wrongdoing and emphasized the focus on harassment claims, distancing the case from a separate money laundering conviction. The trial is set to continue, with a ruling expected in several months.
UBS is on trial in Paris for allegedly harassing whistleblowers, including former auditor Nicolas Forissier, who exposed the bank's efforts to assist wealthy French clients in tax evasion. Forissier and a marketing manager faced retaliation, including bonus cuts and dismissal. UBS's chairman denied wrongdoing, attributing the bank's issues to the 2007-2008 financial crisis, a claim Forissier refuted, stating the wealth management division remained profitable. A conviction could result in a fine of up to 75,000 euros and potential operational bans for UBS France.
UBS is on trial in Paris for allegedly harassing whistleblowers, including former auditor Nicolas Forissier, who exposed the bank's efforts to assist wealthy French clients in tax evasion. Forissier and a marketing manager faced retaliation, including bonus cuts and dismissal. UBS's chairman denied wrongdoing, attributing the bank's issues to the 2007-2008 financial crisis, a claim Forissier refuted, stating the wealth management division remained profitable. A conviction could result in a fine and potential operational bans for UBS France.
UBS is currently on trial in Paris, accused of harassing whistleblowers Nicolas Forissier and a former marketing manager who exposed the bank's efforts to assist wealthy French clients in tax evasion. Forissier, awarded the Chevalier de la Légion d'honneur, claims their bonuses were cut and the marketing manager was dismissed for refusing to destroy client data. UBS's chairman denied wrongdoing, attributing the bank's issues to the financial crisis, while Forissier argued that the problems stemmed from significant mistakes in the investment banking division. A conviction could result in a fine of up to 75,000 euros and potential sanctions against UBS France.
UBS's French subsidiary is on trial for harassing whistleblowers Stéphanie Gibaud and Nicolas Forissier between 2008 and 2010, following their reports of the bank's illegal practices. The company faces allegations of moral harassment, witness tampering, and hindering workplace safety committees. Despite being found guilty of tax evasion in previous cases, UBS maintains its denial of wrongdoing.
Nicolas Forissier
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ubs faces 225000 euro fine for harassment of whistleblowers in paris trial
Euro
UBS AG
UBS Europe SE, Frankfurt am Main, Zweigniederlassung Schweiz, Opfikon
CHE
FRA
Sophie Scemla
Nicolas Forissier
William Bourdon
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07:41 11.12.2024
ubs faces 225000 euro fine for harassing whistleblowers in france
Euro
UBS AG
UBS Europe SE, Frankfurt am Main, Zweigniederlassung Schweiz, Opfikon
FRA
CHE
Nicolas Forissier
20:21 10.12.2024
ubs faces 225000 euro fine for moral harassment of whistleblowers
Euro
UBS AG
UBS Europe SE, Frankfurt am Main, Zweigniederlassung Schweiz, Opfikon
FRA
CHE
Nicolas Forissier
19:47 10.12.2024
UBS France Fined 225000 Euros for Harassing Whistleblowers in Tax Evasion Case
Euro
UBS AG
UBS Europe SE, Frankfurt am Main, Zweigniederlassung Schweiz, Opfikon
FRA
CHE
Nicolas Forissier
19:22 10.12.2024
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UBS Faces Trial Over Allegations of Whistleblower Harassment in Paris
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