Fines for UBS?
A Parisian court found Swiss bank UBS guilty in tax fraud.
On February 21, 2019, a court ordered a Swiss bank to pay a fine in amount of € 4.5 billion for the fact that the Bank’s employees were helping clients to evade taxation in France.
However, UBS strongly disagrees with the decision of the court and has already filed an appeal. UBS insist on that the conviction was based on "unfounded allegations of former employees." The bank stated that all its obligations under Swiss and French Law, especially European Directives were complied and fulfilled.
On materials of the following website: https://www.ubs.com/global/en/ubs-news/r-news-display-ndp/en-20190221-france-verdict.html
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