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UBS to appeal against French court ruling

Reuters Wednesday, 20 February 2019
Swiss bank UBS will appeal against a French court's ruling that found it guilty of laundering the proceeds of tax evasion, said UBS' general counsel.
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News video: UBS to appeal after fined 5.1 billion dollars in French tax fraud case

▶ UBS to appeal after fined 5.1 billion dollars in French tax fraud case 01:00

A French court found Swiss bank UBS AG guilty of illegally soliciting clients and laundering the proceeds of tax evasion, ordering it to pay 4.5 billion euros ($5.1 billion) in penalties. As Julian Satterthwaite reports, the bank says it will appeal the decision.

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Swiss Bank Gets Hit With $5B Penalty For Tax Evasion Scheme [Video]Swiss Bank Gets Hit With $5B Penalty For Tax Evasion Scheme

A French court found Swiss bank UBS guilty of tax fraud and illegal solicitation, fining it more than $5 billion.

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