UBS is fighting new difficulties in the scandal for the explosions -credit Suisse

The Swiss federal prosecutor has decided to appeal against a court decision that had released the name Credit Suisse, a famous Swiss bank that is now part of UBS. This case is associated with a serious money laundering scandal, which is connected to a Bulgarian cocaine trade.

Between 2004 and 2008, large sums of money that had decided as profits from drug trafficking were flown by Credit Suisse's credit. The public prosecutor had argued that the bank did not do enough to prevent these criminal means from moving through its system. This made the case a test of how Swiss law deals with the banks that are accused of having helped with illegal activities, even if they are unintentional.

In the beginning, the court found the Credit Suisse guilty. In November, however, the Federal Criminal Court decided to release the bank, which means that it was officially approved by the charges. But now the public prosecutor is pushing back and asks the highest court in Switzerland – the Swiss Supreme Court – to terminate this acquittal and to rethink the matter.

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The office of the Bundeswärungs was careful to reveal too much detail, but confirmed that they made their appointment in March. There is no clear timeline about when the next decision will be made, but the legal fight is far from over.

UBS caught in the legal crossfire

UBS, the largest bank in Switzerland, is now deeply involved in this case because it has joined the Credit Suisse after it was faced with financial problems. UBS recognized the ongoing legal drama in its latest quarterly report.

Interestingly, UBS also submitted his own appointment. The most important question that you raise is whether a bank that has taken over another – like UBS with Credit Suisse – can be held responsible for crimes or misconduct before the merger. Simple: Should UBS be held responsible for something that happened when it wasn't even involved?

This point is very important for banks and companies all over the world. If the court decides that UBS is liable, there could be an example in which a company that summarizes with another could not only inherit his assets, but also his legal problems.

While the original case was about drug money and weak controls, the attractiveness now has even broader effects. It's not just about whether the Credit Suisse was done wrong – it is also about whether UBS should now wear the punishment.

UBS 'legal fights: navigation in the Credit Suisse money laundering case

A top -class legal dispute continues

This case has attracted attention because he touches some of the biggest names in the banking business and deals with serious crimes such as drug trafficking. Prosecutors believe that Credit Suisse did not have enough checks between 2004 and 2008 to prevent criminals from relocating their illegal profits.

The initial culprit of the court was a big deal because it was one of the rare times when a Swiss bank was exposed to money laundering. When the federal penalty later exposed the Credit Suisse and said the evidence was not strong enough to prove it, many shocked.

By bringing the matter in front of the Supreme Court, he now shows that they are not ready to let go of the case. You want the court to look again at the facts and possibly bring back the culprit judgment.

UBS, who now owns the Credit Suisse, is in a difficult place. While the bank stipulates the appeal in its report, it also fights to ensure that it is not held responsible for measures before the merger.

From now on, both sides are waiting for the next step of the Swiss Supreme Court. Until then, this legal saga continues to throw a shadow about Switzerland's banking world.