UBS requests suspension of the Bulgaria appeal process
Published: Tuesday, Oct 1st 2024, 11:10
Zurück zu Live Feed
UBS is requesting the suspension of the appeal proceedings in connection with the money laundered for the Bulgarian mafia. It should wait until the Federal Supreme Court has made a legally binding decision on its application to discontinue the proceedings.
The big bank had to take the place of Credit Suisse, which, along with other players, was charged with qualified money laundering by the Office of the Attorney General of Switzerland (OAG).
There is no legal basis for this transfer, said one of UBS's lawyers at the start of the trial on Tuesday. He recalled that the takeover of Credit Suisse had been decided by the Federal Council in order to save the Swiss financial center.
The proceedings concern events that took place 17 years ago in another bank that was managed by other bodies, said the defense lawyer. UBS had had no influence on these machinations. The proceedings must therefore be suspended until the Federal Supreme Court has ruled on UBS's application to discontinue the proceedings.
©Keystone/SDA
German 
English 
French 
Spanish 
Arabic