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Credit Suisse fined for facilitating cocaine cash laundering
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Grey clouds cover the sky over a building of the Credit Suisse bank in Zurich, Switzerland, Feb. 21, 2022. A Swiss court on Monday, June 27, 2022 said it has fined Credit Suisse more than $2 million for failing to prevent money laundering linked to a Bulgarian criminal organization a decade-and-a-half ago. - photo by Ennio Leanza/Keystone via AP
ZURICH (AP) — A Swiss court on Monday said it has fined Credit Suisse more than $2 million for failing to prevent money laundering linked to a Bulgarian criminal organization a decade-and-a-half ago. The court also ordered the confiscation of the equivalent of more than $12 million worth of deposits linked to the criminal group and opened with Credit Suisse. The bank is also on the hook for a compensatory claim of more than $19 million.