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The Swiss Attorney General has raised indictment against local bank Credit Suisse for not doing enough to stop Money laundering related to drug trafficking by a Bulgarian criminal organization, in which he participated and a fighter who once drove millions of bills by car to Switzerland, the Associated Press reported.
The accusation in the Federal Criminal Court, along with others against former manager of a Swiss bank and two members of a criminal organization, completes a long-term investigation into the alleged infringement, which appears to have mainly taken place between 2004 and 2008.
The Swiss prosecutor’s office noted how top-level athletes in Bulgaria, after the fall of communism, “turned to other sources of income and a large number of fighters were approached by gangster clansOne of those unidentified combatants aimed to make money from cocaine trafficking and money laundering using the money he generated. mules to transport tons of cocaine from South America to Europe by air and sea.
The proceeds from the sale of medicines, often in small denomination banknotes, entered Swiss bank accounts from 2004 to at least 2007 and were used for purchase of real estate in Bulgaria and in particular in Switzerland. The following year, prosecutors launched an investigation into the combatant and his employer, and later “CEO of Credit Suisse, who was in charge of the criminal organization business“.
“The main violation of the combatant was committed in February 2006, when he was transported the equivalent of more than 4 million Swiss francs in small denomination notes hidden in his car, from Barcelona to Switzerland“says the prosecution.
A former executive director of Credit Suisse, in charge of business relations with the criminal organization, carried out transactions for the criminal organization, “although there were strong indications that the funds were of criminal origin.” The CEO, an unidentified woman, “vigorously prevents” the identification of the origin of the funds, which ultimately include transactions over 140 million Swiss francs.
“Credit Suisse has been aware of these shortcomings since at least 2004. The fact that the bank allowed it to continue until 2008, or even beyond, makes it difficult or frustrating the detection of money laundering by the criminal organization with the help of the executive director of the bank, “says the Swiss prosecutor.
In a statement, Credit Suisse noted “with surprise” the decision to prosecute the bank “as part of an investigation that has already lasted more than 12 years.”
“The bank rejects the allegations of alleged organizational shortcomings and intends to vigorously defend itself,” Credit Suisse insisted, adding that the criminal court could order a “profit distribution” and a maximum fine of $ 5 million.
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