Switzerland’s second-largest bank, Credit Suisse, is a defendant in a trial involving millions of euros that were allegedly laundered through its coffers by a Bulgarian drug trafficker.
This content was published on
2 minutes
swissinfo.ch/mga
Español
es
Credit Suisse se enfrenta a un juicio por blanqueo de dinero
The court case, which starts on Monday, has sparked fresh calls for increased scrutiny of the way banks do business in Switzerland.
Prosecutors state that the drug ring, headed by a former Bulgarian wrestler, washed CHF146 million ($158 million) through Credit Suisse, including large sums of cash in suitcases, between 2004 and 2008.
Two alleged members of the cocaine-smuggling ring and two former bankers, from Credit Suisse and Julius Bär, will be in the dock during the four-week trial.
Credit Suisse is also accused of playing a part in the alleged plot and is the first major Swiss bank to appear in a money-laundering trial in the country, says Swiss public broadcaster, SRF.
“Credit Suisse unreservedly rejects as meritless all allegations in this legacy matter raised against it and is convinced that its former employee is innocent,” the bank said in a statement to Reuters.
String of scandals
The court case is the latest in a string of scandals to hit Credit Suisse, which saw its chairman resign last month after ignoring Covid-19 restrictions.
Swiss price watchdog slams excessive prices for generic medicines
This content was published on
The cheapest generic medicines available in Switzerland are more than twice as expensive as in other countries, according to a study by the Swiss price watchdog.
Nature should not figure in net zero calculations: academic study
This content was published on
The natural removal of CO2 from the atmosphere by forests or oceans should not be included in the net-zero balance of climate protection measures, argue researchers.
This content was published on
None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.
This content was published on
Nestlé's new CEO Laurent Freixe, has presented plans for the future of the world's largest food company, after his first few weeks in office.
Swiss foreign minister calls on Moscow to end Ukraine war
This content was published on
It's high time Moscow ended its war against Ukraine, Swiss foreign minister Ignazio Cassis tells the UN Security Council.
This content was published on
The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.
Study reveals food culture differences between Switzerland and neighbours
This content was published on
Three-quarters of Swiss people consider eating to be a pleasurable, social activity, a new survey reveals. Healthy eating, however, plays a much less important role, it found.
This content was published on
Switzerland is perceived as a relatively “clean” country when it comes to public sector corruption but it is not without problems.
Strip clubs and fraud: the trial of an unconventional Swiss banker
This content was published on
Fraud allegations against Raiffeisen's former CEO have raised questions over the governance of Switzerland's third largest bank.
Credit Suisse chair Horta-Osório resigns over Covid-19 breaches
This content was published on
Shares in Swiss bank Credit Suisse slipped on Monday after its chair António Horta-Osório quit following an internal probe.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.