French court scraps UBS request to drop money laundering charges
A French constitutional court on Thursday rejected a request by Switzerland’s largest bank, UBS, to drop money laundering charges and limit proceedings to complicity in tax fraud.
This content was published on
1 minute
reuters/ds
UBS Group, its French unit along with six executives and former executives are accused of helping wealthy clients avoid taxes in France.
They are facing charges of aggravated tax fraud and money laundering after a seven-year investigation and aborted settlement negotiations.
Defendants in France are allowed on the first day of a trial to raise objections against the case moving forward on the grounds the constitution has been flouted.
The court dismissed the bank’s arguments as “devoid of seriousness.”
UBS must also answer to allegations that it illegally solicited clients in France
If found guilty of money laundering, UBS could be fined up to 5 billion euros (CHF5.7 billion).
More
More
UBS tax fraud trial opens in Paris
This content was published on
A sweeping investigation into UBS bank comes to trial in Paris today. The bank risks fines of up to €5 billion (CHF5.7 billion).
Pro-Palestine protests extend to Basel and Fribourg universities
This content was published on
Demonstrators called for an academic boycott of all Israeli institutions and disassociation with Chaim Weizmann, the first Israeli president.
This content was published on
In many cases, China's use of AI undermines the national security of the US and its allies, according to a US government representative.
Swiss Hells Angels trial alleges rape and money laundering
This content was published on
An allegedly high-ranking member of the Hells Angels is accused of money laundering totalling millions and rape, among other serious crimes.
SWISS is airline ‘group flagship’ says Lufthansa boss
This content was published on
Despite challenges, Lufthansa and its most important subsidiary, Swiss International Airlines, promise increased satisfaction and continued growth.
Swiss rediscover communist zeal after 84-year hiatus
This content was published on
Over 300 participants founded the Revolutionary Communist Party (RKP) at its congress in Burgdorf in canton Bern at the weekend.
This content was published on
Nemo brought the Eurovision Song Contest to Switzerland with a victory on Saturday evening in Malmö, Sweden. It is Switzerland's third victory in the history of the music contest.
Swiss top court rules whistleblower did not breach banking secrecy
This content was published on
The Federal Court rejected by three votes to two an appeal by Zurich prosecutors who were pushing for the country’s banking secrecy law to apply to whistleblowers wherever they are in the world. The majority of the federal judges pointed out that Rudolf Elmer was no longer employed by a Swiss bank at the time…
This content was published on
Hervé Falciani, convicted in absentia by the Swiss Supreme Court in 2015, still sees himself as a whistleblower who has been wronged.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.