French prosecutor seeks trial for UBS over client tax fraud: judicial source
PARIS (Reuters) - A French financial prosecutor requested Swiss bank UBS (UBSG.S: Quote) go on trial for covering up clients' tax fraud as well as illegal prospecting, a judicial source told Reuters.
The source said the prosecutor had also requested UBS France, the bank's French arm, go on trial for complicity.
A spokeswoman for UBS had no immediate comment.
French investigating magistrates now have a month to decide whether or not UBS should face judges.
UBS was placed under formal examination in 2014. At the time, investigating judges ordered the company to pay a 1.1 billion euro ($1.21 billion) bail.
(Reporting by Chine Labbe, writing by Matthias Blamont; Editing by Richard Lough)
© Thomson Reuters 2017 All rights reserved.