A fine of 2 billion euros has been requested on appeal against UBS for aggravated money laundering, tax fraud and illegal bank canvassing. This is the decision issued by the General Prosecutor's Office this Monday in Paris.

The General Prosecutor's Office in Paris requested a heavy fine against the Swiss bank, which was judged on appeal. This is two billion euros for a “slice of the UBS story” synonymous with tax evasion.
The prosecution asked the Court of Appeal to confirm the guilt of the banking giant, which was sentenced in 2019 to a fine of 3.7 billion euros, the heaviest sentence ever handed down in France in a tax fraud case.

At UBS, there was “a great interest in collecting an abundance of (money) by offering effective asset management, but also the concealment of said assets, or part of them, from the French tax authorities,” said General Counsel Muriel Fusina.

“UBS knowingly managed the accounts of French tax evaders,” continues the other attorney general, Serge Roques, who had already requested at first instance when he was at the National Financial Prosecutor's Office (PNF).
The General Prosecutor's Office is asking for confirmation of the sentence of 15 million euros in fines imposed by the court for UBS France, as well as those imposed on five former managers, who were sentenced to up to 18 months in prison with a suspended sentence and a 300,000 euros fine.
It also requires the conviction of the only accused acquitted at first instance, the former number 3 of