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Swiss UBS Bank Is Fined $4.2 Billion in French Tax-Evasion Case

UBS Is Fined $4.2 Billion in French Tax-Evasion Case


“Judges in Paris found UBS guilty of illegally recruiting clients in France and helping them to launder money.

Hello.

French judges ordered UBS Group AG to pay a record €3.7 billion ($4.2 billion) fine for helping wealthy clients in France evade taxes****,

as Switzerland’s largest bank struggles to turn the page on legal entanglements stemming from its core wealth-management business.

Judges in Paris found the Zurich-based bank guilty of illegally recruiting clients in France and helping them to launder money that wasn’t decla... Show more...