{
}
UBS has been acquitted in a case involving Credit Suisse's failure to prevent money laundering linked to a Bulgarian cocaine trafficking gang. A Swiss court overturned a previous conviction and fine, citing the presumption of innocence after the death of a former employee involved in the case. UBS stated that this matter pertains to Credit Suisse's legacy.
A Swiss appeal court has acquitted UBS in a historical money laundering case linked to Credit Suisse, overturning a 2022 conviction. The court determined that the death of a former employee, who had been convicted on related charges, made an appeal impossible.
UBS has been acquitted by the Federal Supreme Court in the Bulgarian cocaine trial, following an appeal. The court's decision was influenced by the death of a former employee linked to the case, which prevented further examination of the accusations against the bank. Consequently, UBS's compensatory claim has been canceled.
UBS has been fined a record 3.7 billion euros by a French court for tax fraud and money laundering, marking the largest penalty in a tax evasion case in France. The bank plans to appeal, asserting that the ruling is based on unfounded allegations and lacks concrete evidence. Additionally, UBS is required to pay over 800 million euros in damages to the French state.
A Swiss court has acquitted Credit Suisse of money laundering charges linked to a Bulgarian cocaine trafficking gang, overturning a 2022 conviction. The ruling cited the death of a former employee, which hindered the examination of the case without violating her presumption of innocence. UBS, now the parent company of Credit Suisse, welcomed the decision, while the Swiss attorney general's office is reviewing the findings for potential further action.
UBS has been acquitted in a case involving Bulgarian mafia money laundering, as the client advisor implicated has passed away. In contrast, Credit Suisse was found guilty in June 2022, receiving a fine of two million francs and ordered to pay 19 million francs in compensation for inadequate organizational measures related to the crime.
UBS has been acquitted in the Bulgarian cocaine trial after the death of a former employee involved in the case, leading to the cancellation of a compensatory claim against the bank. Credit Suisse, which was convicted in 2022 for money laundering linked to a cocaine network, faced significant scandals before its acquisition by UBS in 2023. The court ruled that proceeding with the case would violate the deceased's presumption of innocence.
Credit Suisse has been acquitted in a money laundering case involving Bulgarian cocaine traffickers, overturning a 2022 conviction. The Federal Criminal Court ruled that the presumption of innocence for a deceased former employee prevented a proper examination of the case, leading to the annulment of the bank's fines and compensation claims. UBS, which acquired Credit Suisse in March 2023, welcomed the decision, although an appeal by Swiss federal authorities remains possible.
A Swiss court acquitted Credit Suisse of money laundering charges linked to Bulgarian cocaine traffickers, overturning a 2022 conviction. The court cited the presumption of innocence for a deceased former employee, leading to the annulment of a 2 million franc fine and compensation claims against the bank. UBS, which acquired Credit Suisse in March 2023, welcomed the ruling, though the Swiss federal authorities may still appeal.
A Swiss court acquitted Credit Suisse of money laundering charges linked to Bulgarian cocaine traffickers, overturning a 2022 conviction. The court cited the presumption of innocence for a deceased former employee, leading to the annulment of a 2 million franc fine and compensation claims against the bank. UBS, which acquired Credit Suisse in March 2023, welcomed the ruling, though the Swiss federal authorities may still appeal.
Financial Scams and Security
SubCategory
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
credit suisse acquitted in money laundering case linked to bulgarian gang
01:57 29.11.2024
Swiss court clears UBS in Credit Suisse money laundering case appeal
18:59 28.11.2024
ubs acquitted in appeal of bulgarian cocaine money laundering case
05:56 28.11.2024
UBS Fined 3.7 Billion Euros for Tax Fraud and Money Laundering in France
03:25 28.11.2024
credit suisse acquitted in cocaine cash laundering case overturning previous conviction
21:42 27.11.2024
ubs acquitted in bulgaria money laundering case credit suisse fined
17:46 27.11.2024
ubs acquitted in credit suisse cocaine money laundering case after employee's death
17:40 27.11.2024
credit suisse acquitted in appeal over money laundering case involving traffickers
17:16 27.11.2024
credit suisse acquitted in landmark money laundering case involving drug traffickers
17:15 27.11.2024
credit suisse acquitted in landmark money laundering case involving drug traffickers
17:15 27.11.2024
Trending
Subcategory
Startups & Entrepreneurship
Corporate News
Industry Trends
Global Trade Developments
Government Economic Policies
Retail and Consumer Goods
Stock Market Updates
Industry Mergers & Acquisitions
Global Financial Events
Venture Capital Investments
Supply Chain Management
Private Equity Deals
Cryptocurrency & Blockchain Regulations
Finance Mergers & Acquisitions
Central Bank Actions
Energy Sector Developments
Inflation and Monetary Impact
Market Analysis and Predictions
Funding Rounds & Investments
Economic Indicators
Countries:
Companies:
Apple Inc.
NVIDIA Corporation
Google Inc.
Samsung Securities Co.,Ltd.
Taiwan Semiconductor Manufacturing Company Limited
Microsoft Corporation
Verizon Communications Inc.
OpenAI ERC USD
Dell Technologies Inc.
European Union Bonds
BRAINBEES SOLUTIONS LTD
Eternal Limited
CarTrade Tech Limited
PB Fintech Limited
OLA ELECTRIC MOBILITY LTD
KuCoin Token USD
CANVAS N Co.,Ltd.
Baidu, Inc.
iFLYTEK CO.,LTD
Reliance Industries Limited
Currencies:
United States Dollar
Euro
Indian Rupee
Chinese Yuan
Japanese Yen
British Pound Sterling
Australian Dollar
New Zealand Dollar
South Korean Won
Egyptian Pound
Vietnamese Đồng
New Taiwan Dollar
Indonesian Rupiah
South African Rand
United Arab Emirates Dirham
Malaysian Ringgit
Singapore Dollar
Lebanese Pound
People:
Donald Trump
Howard Lutnick
Shigeru Ishiba
Scott Bessent
Jamieson Greer
Abdulaziz bin Salman Al Saud
Mohammad Al Tamimi
Mohammad Altamimi
Sam Altman
Chris Wright
Christopher Flinos
Mohammed bin Salman Al Saud
John Abraham
Swaminathan Aiyar
Todd Blanche
Justin Sun
Changpeng Zhao
Cameron Adams
Jasprit Bumrah
Kevin Hassett