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Swiss Prosecutors

All articles tagged with #swiss prosecutors

finance1 year ago•1 min saved

Lombard Odier Faces Money Laundering Indictment

Swiss prosecutors have indicted Lombard Odier, one of Switzerland's oldest private banks, and a former employee on charges of aggravated money laundering. The charges relate to concealing proceeds from a criminal organization led by Gulnara Karimova, daughter of Uzbekistan's late president. The bank, under investigation since 2016, denies the allegations and plans to defend itself, claiming the case arose from its own proactive reporting to authorities.

via CNBC|

#banking-scandal #finance #gulnara-karimova

finance2 years ago•2 min saved

Swiss Prosecutors Investigate Credit Suisse Takeover by UBS.

Swiss prosecutors have launched an investigation into the UBS Group's takeover of Credit Suisse, looking into potential crimes by executives at both banks. The prosecutor's office did not specify which parts of the agreement it would investigate. UBS agreed to buy Credit Suisse for $3.2 billion, taking on the first $5.4 billion in losses from unwinding derivatives and other risky assets. The investigation comes just a week after the Swiss government handed Credit Suisse a $54 billion bailout.

via Fox Business|

#credit-suisse #finance #investigation

finance2 years ago•1 min saved

Swiss Prosecutors Investigate UBS Takeover of Credit Suisse and Credit Suisse Boardroom Shake-Up

Swiss prosecutors have launched an investigation into possible illegal activity related to the government-supported takeover of Credit Suisse by UBS. The deal was part of an emergency agreement to avoid a national financial crisis. The prosecutor's statement said the probe aimed to "analyze and identify any criminal offenses" associated with the merger. The deal has been unpopular locally, and the new entity could reportedly cut jobs by up to 30%.

via POLITICO Europe|

#credit-suisse #finance #investigation