Reuters - Arrest warrants said issued for ex-UBS managers

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French investigating magistrates have issued arrest warrants for three former Swiss managers at UBS in connection with their investigation into whether the bank helped tax dodgers, a judicial source told Reuters on Tuesday.

The news agency reports that it was unclear if the managers worked in France or elsewhere for the bank.

France has been investigating UBS since July on suspicion of helping its wealthy clients avoid tax from 2004 to 2012.

Bloomberg News reports that UBS had to pay a security deposit of 1.1 billion euros ($1.3 billion) in September to cover a potential criminal penalty should it be sent to trial and found guilty.

The bank, the world’s largest manager of money for the wealthy, lost its appeal against the bail amount and has said it would ask the European Court of Human Rights to overturn it.

France issues arrest warrants for ex-UBS managers - judicial source

Three Ex-UBS Officials Said to Face Arrest in French Tax Probe


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