French appeal court reduced the bank's bail from 1 billion euros in relation to a probe into alleged tax evasion and money-laundering activities.
The Paris Court of Appeal this week upheld a decision that Swiss bank UBS must post bail of 1.1 billion euros while a judicial investigation into its alleged role in massive, organised tax evasion continues. The colossal bail sum, the highest ever demanded in France, was ordered this summer by magistrates leading the probe into Switzerland’s largest bank which, if sent for trial, faces a far greater fine. Mediapart has gained access to the confidential magistrates’ judicial order in July, in which they detail their investigations and justify the bail. Dan Israel reports.
The 54-year-old, who was arrested on suspicion of conspiracy to murder, has been freed 'pending further enquiries', say British police.