The bank had been ordered for sending Swiss salespeople to France in order to “hunt” the rich customers of its French subsidiary.
Le Monde with AFP
The Swiss Bank UBS, sentenced to France to a total of 1.8 billion euros on appeal for unlawful banking and aggravated money laundering of tax evasion, announced Monday 20 December have formed an appeal in cassation.
This remedy suspends the sentence of 3.75 million euros of fine and the confiscation of a billion pronounced by the Court of Appeal of Paris on 13 December. On the other hand, the 800 million euros of damages that have been allocated to the state may be required immediately.
In this file, UBS was continued for sending between 2004 and 2012 Swiss salespeople in France to “hunt” the rich customers of his French subsidiary, spotted in particular during receptions, concerts or golf tournaments, in order to convince to open up undeclared accounts in Switzerland. In total, at the appeal trial, the Prosecution had estimated at 9.6 billion the amount of concealed assets over the period.