The Local Switzerland

French court hits Swiss bank UBS with record €3.7 billion fine in tax fraud case

Wed, 20 Feb 2019 14:58:58 +0100

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 France.

French prosecutor calls for UBS to be fined €3.7 billion in tax fraud case

Fri, 09 Nov 2018 08:48:20 +0100

A French prosecutor on Thursday called for the Swiss UBS bank to be fined €3.7 billion (4.2 billion dollars) for "knowingly" helping French customers commit tax fraud.

Spain court to rule on extradition of Swiss whistleblower 'within 15 days'

Tue, 11 Sep 2018 14:56:17 +0200

A Spanish court is due to decide within two weeks whether or not to extradite Herve Falciani, a former HSBC analyst who leaked documents alleging widespread tax evasion, to Switzerland, his lawyer said Tuesday.

HSBC agrees fine to avoid court over tax fraud charges

Wed, 15 Nov 2017 09:28:51 +0100

HSBC Private Bank, a Swiss unit of banking giant HSBC, has agreed to pay 300 million euros ($352 million) to avoid going to trial in France for enabling tax fraud, prosecutors said on Tuesday.

Swiss bank targeted in vast tax evasion probe

Mon, 03 Apr 2017 10:25:09 +0200

Authorities in Europe and Australia announced a sweeping tax evasion probe on Friday reportedly targeting Credit Suisse clients and senior employees, as investigators detailed arrests and the seizure of artworks and gold.

Swiss bank UBS faces tax fraud trial in France

Tue, 21 Mar 2017 09:18:37 +0100

Swiss banking giant UBS will go on trial in France for establishing a wide-ranging tax fraud scheme worth billions of euros, legal sources told AFP on Monday.

Heiress appeals against tax fraud sentence

Fri, 02 Dec 2016 09:36:00 +0100

The Switzerland-based heiress to the fortune of French couturier Nina Ricci on Thursday launched an appeal to avoid jail time for tax fraud, in one of the toughest sentences of its kind in French fiscal history.

Swiss billionaire fined for dodging import tax

Mon, 24 Oct 2016 10:40:06 +0200

Swiss customs authorities have slapped a billionaire with a $4 million fine for failing to properly declare some 200 artworks imported into Switzerland, according to media reports confirmed by officials on Sunday.

UBS fined $15m for misselling investments

Thu, 29 Sep 2016 10:20:34 +0200

The Swiss private banking giant UBS has agreed to pay $15 million to settle US allegations of selling risky derivative investments to thousands of unsophisticated investors, US market regulators said on Wednesday.

Former UBS banker charged with selling client data

Wed, 07 Sep 2016 10:12:34 +0200

Switzerland has charged a former employee of the country's largest bank UBS with allegedly selling German authorities the files of wealthy clients suspected of tax evasion, officials and media said on Tuesday.

France demands data haul from Swiss bank

Tue, 05 Jul 2016 13:29:27 +0200

Swiss banking giant UBS said on Tuesday it had been ordered to hand over client information to the French tax authorities, amid allegations it orchestrated a vast system of tax fraud in France.

France demands Swiss bank UBS face fraud trial

Tue, 28 Jun 2016 10:09:34 +0200

French finance prosecutors have asked for Swiss bank UBS to face trial for allegedly orchestrating a vast system of tax fraud in France, a legal source said on Monday.

Italian financier arrested in Lugano for tax fraud

Sat, 25 Apr 2015 10:48:47 +0200

Swiss police have arrested fugitive Italian financier Marco Marenco, wanted for fraud and tax evasion in his country, in Lugano, according to police and media reports.

Swiss banks eye Chinese wealth opportunities

Wed, 10 Dec 2014 11:47:00 +0100

Switzerland's banking sector, facing the end of the secrecy that was once the bedrock of its business, is turning to China as it seeks new markets for the future.

Swiss banks keen to avoid tax cheats: experts

Tue, 09 Apr 2013 12:29:00 +0200

Amid a massive scandal involving France's former budget minister and an undeclared Swiss bank account, Swiss banks are more eager than ever to kick out tax cheats and clear their names, bankers and industry experts say.

Swiss to go after domestic tax cheats

Fri, 24 Feb 2012 12:30:40 +0100

The Federal Council is seeking to put tax evasion on a par with tax fraud so that both offences become criminal in Switzerland.

UBS banker 'hid millions from US tax office'

Fri, 05 Aug 2011 13:17:00 +0200

A former UBS banker was charged Thursday for conspiring to hide more than $215 million for US taxpaying clients in undeclared Swiss accounts.