A court in Switzerland’s capital, Berne, found that there was sufficient suspicion for federal prosecutors to search UBS headquarters in Zurich in a criminal investigation on alleged money-laundering and due diligence breaches. The house search took place on 19 November 2014 when prosecutors were looking for evidence on the bank’s business ties with Musa Aman, Chief Minister of the Malaysian state of Sabah in Borneo.
However, the Berner Zwangsmassnahmengericht court ruled that a confiscated „risk assessment“ by the bank on UBS’ ties with Musa Aman, Chief Minister of the Malaysian state of Sabah, may not be unsealed and may not be used as evidence in a money laundering case against the bank.
The „risk assessment“ had been prepared at the request of FINMA, the Swiss bank regulator. The court applied a basic principle in criminal law, according to which no suspect may be forced to give testimony against himself.
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