The world's first private bank has been accused of illegal bankruptcy and the laundering of aggravated tax fraud in France.
The largest Swiss bank, UBS, was condemned on Wednesday 20 February to pay a record fine of 3.7 billion euro in favor of illegal banking and money laundering tax fraud in France by the criminal court Paris.
The world's first private bank is accused of helping thousands of French taxpayers escape from the tax between 2004 and 2012, which the bank defended during the trial. The amount of the fine corresponds exactly to the sum recovered by Bercy from the French clients of UBS. This sentence complies with the demands of the national prosecutor, who reported in November & # 39; System & # 39; fraudulent "Exceptional magnitude".
Customers identified during receptions or hunting parties
The Swiss group was suspected of sending its salespeople to France to dig into the rich clientele of UBS France, spotted at receptions, hunting for parties or sporting events, and to have persuaded many French tax residents to entrust their assets to Swiss Safes.
The bank has consistently denied the use of illegal methods, while admitting to renouncing certain practices. Six of his former executives or executives and his French branch were tried for a month, in October-November 2018.