Judged since March 8, the bank had been inflicted during the first trial in 2019 with a record fine of 3.7 billion euros. At the appeal trial, the former executive Raoul Weil and other defendants invoke Swiss banking secrecy.

Raoul Weil at the appeal trial of UBS for laundering tax evasion, argues that in 2008 there was no obligation to verify the tax situation of clients. “According to Swiss law, we were not authorized to actively assist a client in tax evasion,” said the former executive, ensuring that the bank was, between 2004 and 2012, well in the nails.
On the contrary, a magistrate of the court, Hervé Robert informs that, some 4,000 UBS clients had, at the end of 2015, regularized their situation with the tax authorities within the sobering-up cell opened in France.
Of the six former executives also retried, only Raoul Weil, former number 3 of the parent company, UBS AG, had been released. But the appeal of the prosecution brings this 61-year-old Swiss to the bar, with whom the court is struggling to make itself understood despite the presence of an English-speaking interpreter.