Wednesday, October 28, 2020

UBS to be fined €3.7 billion for aiding tax evasion and money laundering

UBS to be fined €3.7 billion for aiding tax evasion and money laundering 1
By Olaalpha

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UBS to be fined €3.7 billion for aiding tax evasion and money laundering 2

French prosecutors argued in a Paris court on Thursday for Swiss bank UBS AG to be fined 3.7 billion euros for helping wealthy French people evade taxes. After a seven-year investigation and aborted settlement negotiations, UBS faces accusations of laundering the proceeds of tax fraud and illegally soliciting clients in France. […]

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