Credit Suisse found guilty of money laundering in Swiss cocaine cash case

The Credit Suisse Group AG headquarters in Zurich. Corruption and money-laundering experts say the fact that Switzerland has taken legal action against a global banking player like Credit Suisse could send a powerful message in a country famous for its banking industry. | BLOOMBERG

BELLINZONA, Switzerland – Credit Suisse was convicted Monday by Switzerland’s Federal Criminal Court of failing to prevent money-laundering by a Bulgarian cocaine trafficking gang, in the country’s first criminal trial of one of its major banks. A former employee was found guilty of money-laundering in the trial, which included testimony on murders and cash stuffed

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