“Suitcases Full Of Drug Money”: Credit Suisse Found Criminally Guilty in Money-Laundering Case Tied to Cocaine Ring
June 28th, 2022Via: ZeroHedge:
Another day, another dismal development for the 2nd largest (but most damned) Swiss bank.
On Monday, Credit Suisse Group was convicted of failing to prevent money laundering by a Bulgarian cocaine trafficker, in the first ever criminal conviction of a major Swiss bank in the country’s history. The verdict, in which a former relationship manager at the bank was also convicted on money laundering charges, was handed down by Switzerland’s top criminal court on Monday afternoon.
The former employee, who prosecutors said regularly accepted suitcases of cash from one of the ring members that went beyond allowed limits, was given a 20-month suspended sentence. A person from another bank and two members of the crime ring were also found guilty of money-laundering charges.
