The Swiss bank UBS, convicted of tax fraud in France, is appealing the judgment. She announced this on Monday in Zurich. The appeal against the fine of 1.8 billion euros had been submitted to the Court of Cassation. The penalty that was set a week ago consists of a fine of one billion euros and damages of 800 million euros. The appeal allows UBS to analyze the judgment of the appellate court and determine how to proceed, it said. The bank was found guilty of money laundering for tax fraud and illegal customer solicitation on December 13th in the second instance. The case goes back to the years 2004 to 2012. The public prosecutor’s office has accused UBS of having sent employees to France at the time to attract wealthy clients. UBS had denied the allegations.
Banks – UBS appeals – Business
