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Old 17.12.2020, 18:16
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CS criminally prosecuted

Credit Suisse Group AG was charged by Swiss prosecutors Thursday for allegedly failing to prevent money laundering through the bank by clients and an employee, in a case stretching back more than a decade.

The Swiss attorney general’s office said Credit Suisse in Zurich didn’t comply with provisions against money laundering or the bank’s own internal rules between 2004 and 2008 in opening and monitoring customer accounts.
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Old 17.12.2020, 18:40
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Re: CS criminally prosecuted

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In charges put before Switzerland's Federal Criminal Court on Thursday, investigators said the bank had processed more than SFr140m of transactions for the group, earned from smuggling tonnes of cocaine into Europe and other illegal activities.
https://www.ft.com/content/ac294a00-...0-af6c371068d9

The alleged events occurred between 2004 and 2008. 12 years to press charges....this is more interesting than laundering 140 million CHF
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Old 17.12.2020, 18:41
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Re: CS criminally prosecuted

And what were the charges/punishment?
It's a paid article, cannot see.
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Old 17.12.2020, 18:45
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Re: CS criminally prosecuted

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And what were the charges/punishment?
It's a paid article, cannot see.

https://lmgtfy.app/?q=credit+suisse+cocaine+money+laundering+switzerl and
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Old 18.12.2020, 10:29
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Re: CS criminally prosecuted

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And what were the charges/punishment?
It's a paid article, cannot see.
The court case didnt happen yet. But as far as I understand is the potential maximum sentence for CS for laundering 140 Million CHF... 5 Mil. A decade and a half after the fact.



That will show them!
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Old 18.12.2020, 10:37
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Re: CS criminally prosecuted

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The court case didnt happen yet. But as far as I understand is the potential maximum sentence for CS for laundering 140 Million CHF... 5 Mil. A decade and a half after the fact.



That will show them!
Plus disgorgement of profits.
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Old 18.12.2020, 10:47
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Re: CS criminally prosecuted

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Plus disgorgement of profits.

Yeah, but so what? Will the people who got their bonusses based on that revenue have to pay it back after 15 years? I dont think so.
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Old 18.12.2020, 10:55
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Re: CS criminally prosecuted

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Yeah, but so what? Will the people who got their bonusses based on that revenue have to pay it back after 15 years? I dont think so.
Yes, sadly this sums it up. All the individuals who failed to do their jobs will be completely exonerated.
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