Courts say Credit Suisse faces $ 45.5 million in money laundering cases


Zurich — Swiss prosecutors are seeking compensation from Credit Suisse for CHF 42.4 million ($ 45.5 million) in a money laundering trial starting February 7, the Swiss Federal Criminal Court (FCC) said Monday. Said to.

The Office of Justice (OAG) charged the bank in December 2020 after investigating the activities of the Bulgarian criminal ring involving top-level wrestlers accused of laundering the profits of cocaine trafficking.

“OAG states that it is seeking compensation of approximately CHF 34.8 million and additional compensation of approximately CHF 7.6 million from Credit Suisse AG,” an FCC spokeswoman said in an email statement. increase.

Credit Suisse said, “We have unconditionally rejected all allegations raised in this legacy issue as futile and are confident that the former employee is innocent.” The bank told Reuters that it would defend vigorously in court.

Switzerland’s second-largest bank, which is trying to rebuild its reputation after a series of scandals and the sudden resignation of its chairman, issued a profit warning last week due to legal costs and a slowdown in its transactions and wealth management. Did.

According to a summary on the FCC website, Credit Suisse has been accused of not taking all necessary steps to prevent money laundering.

An employee, a former Credit Suisse manager who was also charged, was charged with processing a transaction worth CHF millions between 2004 and 2008.

Credit Suisse has denied any misconduct by employees.

($ 1 = 0.9318 Swiss francs)

By Silke Koltrowitz and Brenna Hughes Neghaiwi

Reuters

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