A second trial after a dizzyingly high penalty.
From this Monday until March 24, the Swiss banking giant UBS AG is retried on appeal for illegally canvassing French clients and concealing billions of euros in assets from the tax authorities.
Two years ago, on February 20, 2019, the judges of the Criminal Court found her guilty of
"illegal bank directing"
and
"aggravated money laundering of tax fraud"
, qualifying the offenses
"as faults of exceptional gravity".
Read also:
Tax fraud: Switzerland will transmit the identity of UBS clients to the French tax authorities
The Swiss bank was sentenced to the largest sanction ever imposed in France: 4.5 billion euros, including a record fine of 3.7 billion euros and 800 million euros owed to the French state for damages and interest.
The French subsidiary of UBS, for its part, was fined 15 million euros for complicity in the same facts.
Five former executives or executives of the bank were sentenced to six to eighteen months suspended prison sentences, accompanied by fines of 50,000.
This article is for subscribers only.
You have 71% left to discover.
Subscribe: 1 € the first month
Can be canceled at any time
I ENJOY IT
Already subscribed?
Log in