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UBS slams French verdict in tax evasion trial

Reuters Wednesday, 20 February 2019 ()
UBS slammed a French court verdict on Wednesday ordering the Swiss bank to pay 4.5 billion euros ($5.10 billion) after finding it guilty of aiding tax evasion.
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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.

Credit: Rumble     Duration: 00:45Published


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