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UBS allegedly helped clients dodge taxes and more, French unit to “fully collaborate” in investigations

UBS’s French arm commits to cooperating with French authorities regarding an investigation about allegations of various activities. According to French newspaper, Les Echos, UBS allegedly marketed funds to assist French clients dodge taxes, sold banking and financial products by unlicensed persons and, was involved in money laundering. Should there be charges, there could be a maximum penalty of five years…

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