Probe Launched into Banking Scandal Rocking UBS and Credit Suisse
The watchdogs are sniffing out possible criminal breaches by top government officials, regulators, and execs at UBS and Credit Suisse. The Office of the Attorney General has rolled out a rapid-response system to pounce on any dodgy dealings falling under its jurisdiction.
What’s at Stake?
- Possible breaches of secrecy laws
- Insider trading suspicions
- Controversial wiping out of bondholders in the big merger deal
Both banks have stayed tight-lipped, refusing to comment on the unfolding investigation. But experts warn this could blow wide open serious legal breaches linked to the recent banking shake-up.
