A fine of €2 billion has been requested on appeal against UBS for aggravated laundering of tax fraud and illegal bank canvassing. This is the decision released by the general prosecutor's office on Monday in Paris.

The Paris Public Prosecutor's Office has requested a heavy fine against the Swiss bank, which is on appeal. This is two billion euros for a "slice of UBS history" synonymous with tax evasion.
The prosecution asked the Court of Appeal to confirm the guilt of the banking giant, sentenced in 2019 to a fine of 3.7 billion euros, the heaviest sentence ever handed down in France in a case of tax fraud.

There was at UBS " a great interest in collecting in abundance of (money) by proposing effective wealth management, but also the concealment of said wealth, or part of it, from the French tax authorities," said Attorney General Muriel Fusina.

" UBS knowingly managed the accounts of French tax evaders," continues the other advocate general, Serge Roques, who had already requested at first instance while he was at the National Financial Prosecutor's Office (PNF).
The Public Prosecutor's Office is seeking confirmation of the €15 million fine imposed by the court on UBS France, as well as those imposed on five former executives, who ranged from up to 18 months in prison suspended and a fine of €300,000.
It also requires the conviction of the only defendant acquitted at first instance, the former number 3 of UBS AG.