June 27, 2016 / 4:41 PM / in 2 years

French prosecutor seeks trial for UBS over client tax fraud: judicial source

PARIS (Reuters) - A French financial prosecutor requested Swiss bank UBS (UBSG.S) go on trial for covering up clients’ tax fraud as well as illegal prospecting, a judicial source told Reuters.

The logo of Swiss bank UBS is seen at the company's headquarters in Zurich, Switzerland February 10, 2015. REUTERS/Arnd Wiegmann/File Photo

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

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below