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UBS executive charged in tax-evasion probe in France

An unnamed executive in UBS’s French unit has been charged with allegations of tax-evasion after a preliminary inquiry into a February 2011 complaint by French banking regulator, Prudential Control Authority. The executive was allegedly involved in illicit marketing, laundering and benefitting from these practices. Whilst confirming the news, a Hong Kong-based spokesperson from the Swiss bank said, “UBS (France) S.A….

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