been convicted by The Swiss Bank UBS is in Paris because of tax evasion and money laundering to a fine of 3.7 billion euros. It is the largest due to the tax fraud penalty in France.
The Swiss Bank must billion for tax evasion and money laundering of 3.7. Euro numbers. A court in Paris ruled. Thus, the judge followed the plea of the public Prosecutor’s office.
The French branch of UBS will have to pay because of the Complicity of a further 15 million euros. The French government as a civil plaintiff, the court language in addition, 800,000 euros in compensation.
, the largest penalty due to tax
It is the largest due to the tax fraud penalty in France. The national financial Prosecutor’s office had found an “extraordinary Severity” of the fault, which was followed by the court.
UBS is said to have recruited accordingly, in the years 2004 to 2012 aggressively for wealthy French clients to hide their money with the help of Trusts, foundations and Offshore companies before the tax authorities. The Bank had denied the allegations.
The ruling is a first important decision in the law case. Experts assume, however, that the losing side wants to bring the dispute before the next instance. This could drag on for even years.
