Credit Suisse Found Guilty in Money-Laundering Case Tied to Cocaine Ring

Court Finds Credit Suisse Guilty of Facilitating Money Laundering Tied to Cocaine Ring

Swiss bank Credit Suisse was found guilty by the country’s Federal Criminal Court on June 27 for failing to prevent money laundering by a Bulgarian cocaine trafficking gang in the first such criminal trial Switzerland has seen against one of its major banks. The case involved millions of euros in bank deposits made by the trafficking ring to Credit Suisse between 2004 and 2008. The deposits came as a result of drug sales activities and were even…

Credit Suisse: Convicted of Defects in Money Laundering Defense

The major bank is said not to have prevented the money laundering of a Bulgarian cocaine dealer - and must pay a fine of two million euros.

Credit Suisse has been convicted of failing to prevent money laundering by a Bulgarian criminal group: it is the first Swiss bank ever to receive such a sentence

Major Swiss bank Credit Suisse was sentenced by a criminal court in Bellinzona on Monday for not doing enough to prevent money laundering by a Bulgarian criminal group. addicted to drug trafficking. The

Top Swiss Bank 'Credit Suisse' fined over drugs gang money laundering

A former employee was found guilty of aggravated money laundering over a number of transactions she had conducted or ordered to be conducted between July 2007 and December 2008, despite firm indications that the funds had criminal origins.

Credit Suisse found guilty in cocaine cash laundering case

BELLINZONA, Switzerland — Credit Suisse was convicted by Switzerland's Federal Criminal Court on Monday (June 27) of failing to prevent money-laundering by a Bulgarian cocaine trafficking gang in the country's first criminal trial of one of its major banks. A former employee was found guilty of money-laundering in the trial, which included testimony on murders and cash stuffed into suitcases...

Credit Suisse found guilty of money laundering in Swiss cocaine cash case

Experts say the fact that Switzerland has taken legal action against a global banking player like Credit Suisse could send a powerful message in a country famous for its banking industry.