Switzerland: Swiss court upholds conviction of ex-UBS banker who sold data to German authorities

A Swiss court has upheld the 2019 conviction of a former UBS banker for selling information about wealthy German tax evaders to German authorities.

The ex-banker – a Swiss dubbed Rene S. under restrictions on identifying criminal defendants – was sentenced to 40 months in prison for economic espionage and money laundering.

In a verdict released on Friday, the Federal Criminal Court upheld the sentence but reduced an accompanying fine and dismissed a weapons charge.

Rene S. did not attend the court proceedings and is believed to be living in Germany.

The case was part of a decade-old dispute between Germany and Switzerland over untaxed assets, a fight fading now that both countries and others automatically exchange data about residents’ accounts.

The original full article can be found at reuters.com


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