Court says Credit Suisse faces $45.5 million claim in money laundering case

A man walks into the offices of Credit Suisse in the Manhattan borough of New York, U.S., July 5, 2016. REUTERS/Brendan McDermid

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ZURICH, Jan 31 (Reuters) – Swiss prosecutors are seeking compensation of around 42.4 million Swiss francs ($45.5 million) from Credit Suisse (CSGN.S) in a money laundering lawsuit. money which is due to open on February 7, announced the Swiss Federal Criminal Court. (FCC) said Monday.

The Attorney General’s Office (OAG) indicted the bank in December 2020 after an investigation into the activities of a Bulgarian criminal network involving high-profile wrestlers accused of laundering profits from cocaine trafficking.

“The MPC has stated that it is seeking compensation of approximately 34.8 million Swiss francs as well as additional compensation of approximately 7.6 million Swiss francs from Credit Suisse AG,” a spokesperson for the company said. FCC in an emailed statement.

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Credit Suisse said it “unreservedly rejects as baseless all allegations in this inheritance case brought against it and is satisfied that its former employee is innocent.” The bank told Reuters it would vigorously defend itself in court.

Switzerland’s second-largest bank, which is trying to rebuild its reputation after a series of scandals and the abrupt departure of its chairman, issued a profit warning last week over legal costs and a slowdown in its trading divisions. and wealth management. Read more

A summary on the FCC’s website shows Credit Suisse being accused of failing to take all necessary steps to prevent an employee from laundering money.

The employee, a former director of Credit Suisse who has also been indicted, is accused of handling transactions worth millions of Swiss francs between 2004 and 2008 despite indications that the money could be of criminal origin.

Credit Suisse has denied any wrongdoing on the part of the employee.

($1 = 0.9318 Swiss francs)

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Reporting by Silke Koltrowitz and Brenna Hughes Neghaiwi; Editing by Alexander Smith

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