Eric Dezeuze, a lawyer for UBS France, revealed the amount on day one of a trial where the Swiss lender is accused of deploying tactics “worthy of James Bond” to help customers launder money they hadn’t declared to French authorities. He said the French state’s lawyer cited the amount in recent written submissions.
Bloomberg News reports that UBS dispatched bankers across the border to seek out new clients even though they lacked the paperwork - a banking license or European passport - to offer such services in France, the lead investigator wrote in the indictment ahead of the trial which got underway on Monday afternoon.
“After more than six years of legal proceedings, we will finally have the opportunity to respond to the often unfounded allegations that were frequently leaked to the media, in clear violation of the presumption of innocence and the legal confidentiality of the process,” UBS said in an emailed statement ahead of the trial.
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