Swiss Court Clears UBS in Bulgaria Case

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The Federal Criminal Court acquitted the bank on Wednesday, which had inherited the case following the acquisition of Credit Suisse. UBS "favourably accepts this decision" but maintains that judicial proceedings should have been abandonedUBS was acquitted in the so-called case of "Bulgarian cocaine", which it inherited after the acquisition of Credit Suisse, according to a judgment of the Federal Criminal Court published on Wednesday. The TPF ac…

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The Federal Criminal Court acquitted UBS on Wednesday on appeal in the case of Bulgarian funds, which dates back to the time of Credit Suisse. For the judges of Bellinzone, the bank did not commit aggravated money laundering.

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The Federal Criminal Court (FCC) acquitted UBS on Wednesday in the Bulgarian funds case, which dates back to the Credit Suisse era. The judges in Bellinzona ruled that the bank was not guilty of aggravated money laundering.

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In the Bulgarian case, the Federal Criminal Court acquitted UBS of allegations of the company's responsibility in connection with serious money laundering. Credit Suisse is the origin of the case.