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UBS the next million buses threatens

The Mannheim public Prosecutor's office applied for and abetting tax evasion, a fine in the amount of 83 million euros against the German subsidiary of the UB

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UBS the next million buses threatens

The Mannheim public Prosecutor's office applied for and abetting tax evasion, a fine in the amount of 83 million euros against the German subsidiary of the UBS . This is the authority announced on Tuesday. Already in 2014, UBS in a tax sinner-procedure paid at the Bochum public Prosecutor's office approximately 300 million Euro.

for a Lot more Trouble for the big Bank currently has in France, a court fined in February for tax evasion and money laundering, a record fine of 4.5 billion euros against the UBS. This has appealed, however the appeal. The investigation in Mannheim, were already operating since 2012. The Prosecutor looks at it now as proved, that the managers of the German subsidiary have supported numerous customers of the group in the case of tax offences.

So staff should have made it possible for Bank customers to transfer via an internal clearing account of the UBS funds to the authorities in Switzerland. With of a fine the companies should be punished for the misconduct of its executives and the economic advantage can be skimmed off.

UBS is up in arms against the fine. The money house see no basis in the law and will defend itself vigorously, said a spokesman. The Mannheim regional court has to decide in a trial whether it is the request of the public Prosecutor's office. (red/afp)

Created: 07.05.2019, 17:33 PM

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