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French court postpones verdict in UBS 4.5 billion euros tax case until Dec. 13 By Reuters

by Mike Robinson

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© Reuters. UBS General Counsel Markus Diethelm arrives at the Paris Appeals Court as French judges are set to rule today on Swiss bank UBS’s delayed appeal against a 4.5 billion-euro fine for allegedly helping wealthy clients stash undeclared assets offshore, in Par

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PARIS (Reuters) – French court said on Monday it has postponed until Dec. 13 a verdict on Swiss bank UBS’s appeal against a 4.5 billion-euro fine for allegedly helping wealthy clients stash undeclared assets offshore.

UBS wants to reverse the 2019 French court decision in which it had been found guilty of soliciting illegal clients at French parties and sporting events, as well laundering proceeds from tax evasion.

UBS was once again hit with record amounts of 4.5 billion euro ($5.32billion) in fines and civil damages.

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