A judge leading a tax-fraud investigation concerning UBS AG (UBSN)’s French unit has charged a second person with aiding in illicit marketing and money laundering.
Judge Guillaume Daieff charged the person, a former UBS employee in Lille, France, on July 12, Agnes Thibault-Lecuivre, a spokeswoman for the Paris prosecutors’ office, said today.
UBS is “fully cooperating with the French authorities,” according to an e-mailed statement by the Zurich-based bank.
French tax investigators have searched UBS offices in Bordeaux, Strasbourg and Lyon as part of the inquiry, seizing hard drives, documents and questioning employees. The bank hasn’t been accused of any wrongdoing in the matter, Thibault- Lecuivre said.
The case began in April after a preliminary inquiry into a complaint by France’s national bank regulator over marketing practices.
UBS avoided prosecution in the U.S. in 2009 by paying $780 million, admitting it helped thousands of Americans evade taxes and turning over the names of 250 American clients to authorities. UBS later revealed another 4,450 accounts held by clients in the country.
Agence France-Presse reported the charge against the former employee earlier today.
To contact the reporter on this story: Heather Smith in Paris at firstname.lastname@example.org
To contact the editor responsible for this story: Anthony Aarons at email@example.com