The French Court of Appeal has found UBS AG guilty of unlawful solicitation and aggravated laundering of the proceeds of tax fraud.
UBS AG must pay a total of €1.8 billion.
The case relates to the bank’s cross-border business activities in France between 2004 and 2012.
However, UBS’ fine has been significantly reduced since the first ruling. It now stands at €3.75 million, down from €3.7 billion in the first instance.
The Court has als...
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