UBS appeal verdict for French fine delayed to December

The group is challenging a 2019 conviction for allegedly helping clients to launder funds

The logo of Swiss bank UBS in Zurich, Switzerland. Picture: REUTERS/ARND WIGMANN

The Paris court of appeals said the judgment — originally scheduled for Monday — will now be handed down on December 13. UBS is challenging a 2019 conviction for allegedly helping clients to launder funds through numbered accounts and trusts that should have been declared to French tax officials. During the appeal hearings in March, French prosecutors described wrongdoing of “an exceptional magnitude”. A UBS lawyer said the bank’s behaviour was “no different, if not sounder” than other lenders based in Switzerland.

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