Credit Suisse faces trial in drug-tied money laundering case

Published February 7, 2022 4:59 AM

GENEVA (AP) — A Swiss criminal court is opening a trial on charges that Credit Suisse failed to do enough to stop money laundering linked to drug trafficking by a Bulgarian criminal organization. The case against the bank in federal criminal court Monday centers on charges that it “did not take all necessary measures to halt the infraction of money laundering” by one of its employees. An indictment announced in 2020 centered on a former manager at the Swiss bank and two members of the criminal ring. The allegations appear mostly to have taken place between 2004 and 2008. Credit Suisse rejected all the allegations as meritless.

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