ZURICH, (Reuters) – Credit Suisse shut down Ai Weiwei’s account at Credit Suisse because of missing paperwork. The statement was made in response to Ai Weiwei’s accusation that Credit Suisse had closed his bank account as part of a Chinese strategy to get business.

According to Reuters, the bank stated that Mr Weiwei had not provided legally required information despite multiple requests.

According to the report, “The client relationship was terminated for business reasons.” It also confirmed comments that were made in a earlier Swiss newspaper Tages-Anzeiger.

On Saturday, the newspaper reported that Credit Suisse (SIX) had updated its position from previous comments to Ai. It had determined to close Ai’s bank account due to his conviction for crimes.

According to the newspaper, there is no rule that criminally convicted people can close their bank accounts. Ai, however, has not been convicted nor charged.

According to the Tages-Anzeiger, Ai also answered questions in February about his expenses, income and domicile.

Credit Suisse used my “crime” to close my account. “The institution had just announced it was speeding up its recruitment in China,” Ai posted in September to website artnet.com.

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.

Ai, who spent 81 days in detention in China in 2011, later told Reuters https://www.reuters.com/world/china/chinese-activist-ai-weiwei-says-credit-suisse-closing-his-foundations-bank-2021-09-07: “Even if they do reverse this decision, I am not willing to be associated with a bank which has such a strange relationship with China.”

This 64-year-old artist is one China’s most prominent political activists and artists. He helped to design Beijing’s 2008 Olympics Bird’s Nest stadium, before he was fired by the Chinese authorities. He lives now in Portugal.

He didn’t respond to Reuters’ request for comment Saturday.