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Switzerland's Federal Prosecutor has opened an investigation into the state-backed takeover of Credit Suisse by UBS Group, the office of the attorney general said Sunday.
Switzerland's Federal Prosecutor has opened an investigation into the state-backed takeover of Credit Suisse by UBS Group, the office of the attorney general said on Sunday. The prosecutor, based in the Swiss capital Bern, is looking into potential breaches of the country's criminal law by government officials, regulators and executives at the two banks, which agreed on an emergency merger last month to avoid a meltdown in the country's financial system.
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Financial Times: The country’s sense of self as a haven for world’s money is being shaken.
Switzerland will return the money seized from three Russian citizens accused of taking part in one of the world's most notorious frauds.
Switzerland can use frozen Russian assets to fund the reconstruction of Ukraine, says anti-corruption expert Mark Pieth, referring to an article of the criminal code.