Tuesday , January 31 2023

French prosecutors demand Swiss bank UBS AG to pay 3.7 billion euros


The French Financial Prosecutor's Office demanded a fine
The Swiss bank UBS AG has € 3.7 billion to assist French citizens
tax evasion, writes Financial Times.

According to the authorities, the bank 's criminal scheme,
avoiding paying € 10 billion in taxes to customers

"UBS deliberately manages accounts of tax evaders,
– said prosecutors. – Control
taxes are just money stealing from society. "

UBS representatives denied all statements and did not understand it
The French Authority calculated the required amount

Reportedly, in 2014 UBS solved this situation
The German government has paid compensation of € 300 million,
but the wealth of UBS is the size of the management business
In France less than in Germany.

UBS shares fell by 3.2% on Friday at auction Friday, the bank's capitalization
has fallen by 22% since the beginning of the year to 55.2 billion US dollars. Swiss franc
($ 54.8 billion).

Based in Financial Times

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