Reported about 7 hours ago
The Swiss Federal Criminal Court has acquitted Credit Suisse of a 2022 conviction for failing to prevent money laundering linked to a Bulgarian cocaine trafficking gang. The original ruling, which held the bank accountable for the actions of a deceased ex-employee, was overturned after the court determined that further examination would breach the presumption of innocence. Credit Suisse, now part of UBS after its collapse in 2023, had previously faced fines and asset confiscations related to the case. UBS welcomed the ruling, indicating it marks the resolution of this legal matter.
Source: YAHOO