Switzerland-Credit Suisse sentenced in money laundering case | Photo credits: Credit Suisse
BELLINZONE, Switzerland, June 27 (Reuters) – The Swiss Federal Criminal Court has found Credit Suisse and a former employee guilty of failing to prevent money laundering practices in the first such trial against one of major banks in the country.
Judges had to determine whether the bank and its former employee took sufficient steps to prevent a group of suspected Bulgarian cocaine traffickers from laundering their profits from the bank between 2004 and 2008.
Both parties deny any wrongdoing. (Report Paul Carrel; French version Dagmarah Mackos, edited by Sophie Louet)