Swiss-headquartered UBS appeals tax evasion verdict of French Court

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Swiss-headquartered UBS appeals tax evasion verdict of French Court

Swiss-headquartered bank UBS has filed an appeal with the French Supreme Court against last week's court decision in Paris that upheld money laundering claims but substantially reduced a fine to €3.75m, the confiscation of €1bn, and civil damages of €800m. In a brief statement on 20 December, UBS said: "The notice of appeal was filed within the statutory five-day notice period to preserve UBS AG's rights. "This enables UBS AG to thoroughly assess the verdict of the Court of Appeal and t...

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