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Swiss bank UBS fined 3.7 bn euros in French tax fraud case

Bangkok Post Wednesday, 20 February 2019 ()
PARIS - A Paris court on Wednesday fined Swiss banking giant UBS 3.7 billion euros ($4.2 billion) in a tax fraud case, a record for such a case in France.
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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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