Credit Suisse says it shut Ai Weiwei account due to missing paperwork -Breaking
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© Reuters. FILE PHOTO – The logo of Swiss bank Credit Suisse can be seen in a branch office located in Zurich (Switzerland), November 3, 2021. REUTERS/Arnd Wiegmann/File Photograph2/2
ZURICH (Reuters). Credit Suisse (SIX) A bank account belonging to dissident Chinese artist Ai Weiwei was closed because there were missing documents. This statement came in response to Ai Weiwei’s claim that the Swiss bank had blocked him as part of its strategy to gain business in China.
According to Reuters, the bank stated that Mr Weiwei had not provided legally required information despite multiple requests.
According to the newspaper Tages-Anzeiger, “The client relationship was terminated for business reasons.”
Ai posted on September’s website artnet.com, that his bank told him they were closing his account due to a criminal history. However, he claimed that he hadn’t been charged with a crime despite being held in China for 81 days.
Credit Suisse used my ‘crime,’ to shut down my bank account. “Not long ago, the institution announced that they were accelerating their recruitment of workers in China,” he wrote.
It would also seek to control majority of the joint ventures it has in the securities markets and apply for licenses that will allow it expand its investment and personal banking business.
Later, he said to Reuters that despite the fact that they might reverse their decision, he was not prepared to work with a bank having such a weird relationship with China.
Ai (64), is a prominent artist and politician from China. He helped to design Beijing Olympics’ Bird’s Nest stadium in 2008 before he fell out with Chinese authorities. Ai now resides in Portugal. Reuters reached out to him Saturday for comment.
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