Print Magazine
Brussels Morning Newspaper
Monday, May 16, 2022
No Result
View All Result
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
No Result
View All Result
Home Europe

Credit Suisse faces Bulgarian cocaine money laundering charges

Ivan Fischer by Ivan Fischer
8 February 2022
in Europe
Special,Law,Enforcement,Unit.,Special,Police,Force,Units,In,Uniforms,
Share on FacebookShare on Twitter

Belgium (Brussels Morning Newspaper) Credit Suisse, Switzerland’s second-largest bank, faces money laundering charges at a Swiss court today, suspected of having allowed an alleged Bulgarian cocaine trafficking operation to launder millions of euros.

According to the Swiss prosecutors, the bank failed to take all the necessary steps to prevent the suspected drug traffickers from hiding and laundering cash between 2004 and 2008. Credit Suisse,  already burdened by a number of scandals, has now become the first major bank in the country to face a criminal trial.

The prosecution seeks to fine the lender around 42.4 million francs, to be taken as compensation from the bank. Credit Suisse rejects all the charges and has announced it would “defend itself vigorously” in court. In addition, it insists that its former relationship manager, who is also charged as part of the case, was blameless.

“Credit Suisse unreservedly rejects as meritless all allegations in this legacy matter raised against it and is convinced that its former employee is innocent”, the lender said in an official statement.

The 500-page indictment details the relationship between Credit Suisse and its former manager on the one side, and former Bulgarian wrestler Evelin Banev and his associates on the other. Two of Banev’s associates are also named in the process and are charged with participating in the crime.

While Banev himself is not facing charges in the Credit Suisse case, he was found guilty and convicted of drug trafficking in Italy in 2017, and again in Bulgaria in 2018, for participating in a criminal organisation suspected of smuggling tonnes of cocaine from Latin America into Europe.

Banev fled Bulgaria before serving his sentence, and was arrested in Ukraine in September last year. According to Interpol’s red notice list, Banev is being sought by Bulgarian prosecutors to face charges of managing an organised criminal group and drug trafficking.

Tags: Europe-FeatureMain-Slider

Latest post

White,Mannequins,,,With,Heather,On,A,Dark,Green,Forest

Portugal features sustainable fashion practices at Brussels event

2 hours ago
shutterstock_1422091745

US to send two shiploads of gas to Bulgaria amid Russian’s energy cut

2 hours ago

Most Read

  • shutterstock_1821616664

    MEPs send Open Letter urging the Home Secretary Priti Patel to reject Assange’s extradition

    0 shares
    Share 0 Tweet 0
  • These are the 10 highest paying jobs in the Europe in 2022

    0 shares
    Share 0 Tweet 0
  • Brussels residents want to set up school for Ukrainian children

    0 shares
    Share 0 Tweet 0
  • Why corruption matters

    0 shares
    Share 0 Tweet 0
  • Sweden: Taking Syrian children away from parents for protection?

    0 shares
    Share 0 Tweet 0
Facebook Twitter Youtube LinkedIn

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

Category

  • Ambassador’s Corner
  • Belgium News
  • Brussels
  • Commission
  • Council
  • Culture and Society
  • Diplomacy
  • Economy
  • EU Institutions
  • Europe
  • Europe With Transparency
  • Features
  • In Depth
  • Member States
  • Middle East Eye
  • Opinion
  • Our pick
  • Parliament
  • Place de la Bourse
  • Southeast Europe
  • Sustainable Perspective
  • The American Angle
  • The Macro-Economist
  • Uncategorised
  • US Elections
  • World

More info

  • About Us
  • Advertising
  • Cookies Policy
  • Contact Us
  • FAQ
  • Jobs

Brussels Morning Newspaper - All Rights Reserved © 2020

No Result
View All Result
  • Home
  • About Us
  • EU Institutions
    • Parliament
    • Commission
    • Council
  • Europe
  • World
  • Member States
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Sustainable Perspective
    • The American Angle
    • Southeast Europe
  • Print Magazine

Brussels Morning Newspaper - All Rights Reserved © 2020

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT