UBS to appeal record €3.7 billion French tax fraud fine snbchf.com: A French court on Wednesday found Swiss bank UBS guilty of illicit solicitation and laundering of the proceeds of tax fraud, imposing a hefty fine of €3.7 billion (CHF4.2 billion). The bank was convicted of illegally helping wealthy French clients evade tax authorities in France. UBS, its French subsidiary and three of its former executives have also been ordered to pay civil damages of €800,000.
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